Vivid Seats’ stock jumps after better-than-expected Q3 revenue and acquisition of Vegas.com

Ciara Linnane is MarketWatch's investing- and corporate-news editor. She is based in New York.

Vivid Seats Inc.’s stock SEAT, +0.64% jumped 4% early Tuesday, after the marketplace that links buyers with ticket sellers for thousands of events each year posted earnings and announced a deal to acquire a smaller rival. Chicago-based Vivid Seats said it’s acquiring Vegas.com, a marketplace for events in Las Vegas, in a cash-and-stock deal valued at about $240 million. “As the local market authority, Vegas.

The company had net income of $16 million in the quarter, down 15% from $18.7 million a year ago. It did not offer per-share numbers. Revenue rose 20% to $188.1 million from $156.8 million a year ago, well ahead of the $154 million FactSet consensus. Marketplace gross order value, or GOV, rose 28% to $998.9 million. “It has never been more clear that demand for live events is strong and that we are capturing that strength at Vivid Seats,” said Stan Chia, CEO, in a statement.

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