StubHub Holdings, Inc. Q3 2026 Earnings Recap

StubHub’s shares fell 1.2% after earnings, a roughly flat reaction. The quarter showed higher GMS and adjusted EBITDA, while the company raised its full-year GMS outlook and reiterated its EBITDA range.

Key Takeaways

• Q3 GMS increased 7% to $2.6 billion.
• Adjusted EBITDA rose 84% to $124 million, with a 25% margin; management called it the company’s highest quarterly margin as a public company.
• StubHub raised its full-year GMS growth outlook to 11%–13% and reiterated adjusted EBITDA guidance of $400 million–$420 million.
• Management said it was not seeing material traffic from AI-based referrals to date, though it expects that to increase over time.