diff --git a/tools/lib/traceevent/event-parse.c b/tools/lib/traceevent/event-parse.c
index 337ca02fb52552f6e646e90d2b8d441fe15db1af..99b0cd4b79d495d35537c74eb26daaf4bde1c6ec 100644
--- a/tools/lib/traceevent/event-parse.c
+++ b/tools/lib/traceevent/event-parse.c
@@ -4770,7 +4770,8 @@ int pevent_parse_event(struct pevent *pevent,
 			arg->field.name = strdup(field->name);
 			if (!arg->field.name) {
 				do_warning("failed to allocate field name");
-				goto event_failed;
+				event->flags |= EVENT_FL_FAILED;
+				return -1;
 			}
 			arg->field.field = field;
 		}