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Live Nation 2Q profit falls 61 percent, misses estimate

Live Nation Entertainment Inc. (LYV) on Thursday reported earnings that declined by 61 percent in its second quarter, and missed analysts' expectations.

The Beverly Hills, California-based company said profit declined to $22.9 million, or 11 cents per share, from $58.1 million, or 30 cents per share, in the same quarter a year earlier. The average per-share estimate of analysts surveyed by Zacks Investment Research was for earnings of 16 cents.

The ticket seller and concert promoter reported revenue of $1.67 billion compared with $1.68 billion in the same quarter a year ago, and beat Wall Street forecasts. Analysts expected $1.58 billion, according to Zacks.

Live Nation shares have risen $3.45, or 17 percent, to $23.21 since the beginning of the year. The stock has climbed $6.51, or 39 percent, in the last 12 months.


This story was generated automatically by Automated Insights ( ) using data from Zacks Investment Research. Full LYV report:


Keywords:Live Nation,Earnings Report