Eventbrite Projections Falter Amid Coronavirus Impact on Events
Photo Credit: Eventbrite earnings uncover concern over coronavirus impacts on events. Unsplash / Mario Gogh
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Eventbrite reels in 2020 forecasts in light of event cancellations due to coronavirus. Despite performing better than expected in 2019's fourth quarter, the company's recent stock performance indicates a lack of confidence from investors.
The recent earnings call from Eventbrite demonstrated a strong finish in 2019's fourth quarter, but coronavirus dampened the company's positive outlook. The announcement that Eventbrite retained 70 percent of Ticketfly's book of business quelled lingering doubts surrounding Eventbrite's handling of its Ticketfly integration last year. Revenue for the year increased 12 percent year-over-year at $327 million.
Eventbrite also noted, however, the upcoming impact on event ticket sales due to the spread of coronavirus. The company adjusted its 2020 revenue projections based on the anticipated effects of the outbreak, coming in significantly lower than industry predictions.
Investors reacted negatively to last Thursday's ear
