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How StubHub Holdings (STUB) makes money
StubHub Holdings (STUB) made $573M of revenue in the second quarter 2026 (Q2 2026), +33% from a year earlier. Transaction fees brought in $562M (98%); Other revenue brought in $10.9M (2%). Of every dollar of revenue, 3¢ was left as operating profit, 3¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q2 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Transaction fees | $562M | 98.1% | +28% | +34% |
| Other revenue | $10.9M | 1.9% | +93% | -9% |
Where each dollar of revenue goes
| Line | Q2 2026 | % of revenue |
|---|---|---|
| Revenue | $573M | 100.0% |
| Operating profit | $19.5M | 3.4% |
| Net earnings | $14.6M | 2.5% |
| Operating cash flow | $322M | 56.2% |
| Free cash flow | $310M | 54.0% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q2 2026 | $573M | +33% |
| Q1 2026 | $446M | +12% |
| Q4 2025 | $449M | -16% |
| Q3 2025 | $468M | +8% |
From StubHub Holdings' 10-Q filed Aug 13, 2026 (on EDGAR).
Questions
How does StubHub Holdings make money?
StubHub Holdings (STUB) made $573M of revenue in the second quarter 2026 (Q2 2026), +33% from a year earlier. Transaction fees brought in $562M (98%); Other revenue brought in $10.9M (2%). Of every dollar of revenue, 3¢ was left as operating profit, 3¢ was left as net earnings.
What is StubHub Holdings' biggest business?
Transaction fees: $562M in the second quarter 2026, 98% of revenue, +34% from a year earlier.
What is StubHub Holdings' profit margin?
Net earnings were $14.6M, 2.5% of revenue, in the second quarter 2026; the operating margin was 3.4%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.