Eventbrite Inc Reports Financial Results for Q2 2024
Intellectia.AI Updated: 1970-01-01
Eventbrite, Inc. Reports Financial Results for Q2 2024
Eventbrite, Inc. has reported its financial results for the fiscal quarter ending June 30, 2024.
Key Financial Metrics
| Metric | Q2 2024 | Q2 2023 | YoY Change | Consensus Estimates | Q1 2024 | QoQ Change |
|---|---|---|---|---|---|---|
| Total Revenue | $86.5M | $81.0M | +6.79% | $86.42M | $85.0M | +1.76% |
| Earnings Per Share (EPS) | $-0.05 | $-0.03 | -66.67% | $-0.05 | $-0.04 | -25.00% |
Interpretation: Eventbrite's Q2 2024 revenue exceeded the previous year by 6.79% and slightly surpassed consensus estimates. However, the earnings per share remained negative, aligning with analyst expectations but showing a significant year-over-year decline.
Dividends or Share Repurchase Program
Eventbrite announced that its board of directors approved a share repurchase program authorizing the purchase of up to $100.0 million of the company’s Class A common stock. As of June 30, 2024, approximately $63.0 million remained available and authorized for future repurchases.
Stock Price Movement
Following the earnings release, Eventbrite's stock experienced a -2.06% change, indicating a negative market reaction.
In summary, while Eventbrite's revenue met expectations, the ongoing negative earnings and substantial year-over-year decline in EPS highlight operational challenges. The company's proactive share repurchase program demonstrates a strategic effort to manage shareholder value amidst these challenges.
