Report published August 13, 2026
StubHub Holdings (STUB) Q2 2026 Earnings Review: Goldman Sachs Analysis
Source and citation context
- Issuer
- Goldman Sachs
- Report date
- August 13, 2026
- Analysis as of
- Not stated in source
Authors / editors: Eric Sheridan (Analyst), Stephen Laszczyk (Analyst), Antares Tobelem (Analyst)
Finvaulta summarizes Goldman Sachs's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
StubHub delivered a strong Q2 2026 earnings beat on GMS and revenue, supported by World Cup-related demand and improved balance sheet metrics. Goldman Sachs maintains its Buy rating and $16 price target amid ongoing debates regarding forward guidance.
Key Takeaways
- 1.Strong Q2 2026 results driven by GMS and revenue outperformance, partly due to World Cup and live events growth.
- 2.Improved balance sheet with 3x net leverage ratio and $1.1b of total debt retired over the last 12 months.
- 3.Management raised FY 2026 GMS outlook to $10.1-10.3bn, reflecting strong demand, while maintaining a disciplined approach to Adj EBITDA guidance.
Table of Contents
- Q2'26 Earnings Review
- Q2'26 Positives & Negatives
- Q3'26 & FY2026 Estimate Changes
- Valuation: Maintain Buy Rating and $16 PT (unchanged)
- Disclosure Appendix
Report data
Q2'26 Actuals vs. Estimates
| Metric | Estimate | Context |
|---|---|---|
| Gross Merchandise Sales (GMS) | 3,090 million USD | Actual vs. Goldman Sachs estimate |
| Debt Retired | 1.1 billion USD | Balance sheet improvement |
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Authors / Editors
Reported Data Context
- Gross Merchandise Sales (GMS): 3,090 million USD (Q2 2026) · Source: Company data, Goldman Sachs Global Investment Research
- Debt Retired: 1.1 billion USD (Last 12 months) · Source: Company report
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