Filing Flows › StubHub Holdings (STUB) › Q2 2026 › vs Q1 2026
StubHub Holdings (STUB) Q2 2026 vs Q1 2026 (quarter over quarter)
StubHub Holdings's revenue rose $127M (+28%) from $446M in Q1 2026 to $573M in Q2 2026. The biggest changes: Transaction fees +$122M (+28%); Other revenue +$5.3M (+93%). Operating margin 3.4% against 5.8% (-2.4 pts).
StubHub Holdings, Q2 2026: revenue $573M (+33% year over year), operating margin 3.4%, net earnings $14.6M, operating cash flow $322M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 3.4% | 5.8% | -2.4 pts |
| Net margin | 2.5% | 10.8% | -8.2 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Transaction fees | $562M | $440M | $122M | +28% |
| Other revenue | $10.9M | $5.7M | $5.3M | +93% |
| Revenue | $573M | $446M | $127M | +28% |
| Operating profit | $19.5M | $25.8M | −$6.4M | -25% |
| Costs & expenses | $554M | $420M | $133M | +32% |
| Pre-tax earnings | $12.2M | $45.2M | −$33.0M | -73% |
| Other expense, net | $7.2M | −$19.4M | $26.6M | — |
| Cost of revenue | $105M | $65.8M | $38.8M | +59% |
| Sales & marketing | $274M | $226M | $48.2M | +21% |
| General & admin | $146M | $106M | $40.7M | +39% |
| Other operating costs | $28.6M | $22.8M | $5.7M | +25% |
| Income tax benefit | $2.4M | $2.8M | −$456K | -16% |
| Net earnings | $14.6M | $48.0M | −$33.4M | -70% |
| Depreciation & amortization | $9.8M | $7.9M | $1.9M | +24% |
| Share-based compensation | $69.0M | $31.0M | $38.0M | +123% |
| Working capital & other | $228M | $211M | $17.0M | +8% |
| Operating cash flow | $322M | $298M | $23.4M | +8% |
Questions
How much did StubHub Holdings's revenue grow quarter over quarter in Q2 2026?
StubHub Holdings's revenue rose $127M (+28%) from $446M in Q1 2026 to $573M in Q2 2026.
What drove StubHub Holdings's revenue change in Q2 2026?
Transaction fees +$122M (+28%); Other revenue +$5.3M (+93%).