Live Nation matches 2Q profit expectations, tops revenue forecasts

MarketsAssociated Press

Live Nation Entertainment Inc. (LYV) on Monday reported second-quarter profit of $15.1 million.

On a per-share basis, the Beverly Hills, California-based company said it had net income of 6 cents.

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The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of 6 cents per share.

The ticket seller and concert promoter posted revenue of $1.77 billion in the period, which topped Street forecasts. Six analysts surveyed by Zacks expected $1.72 billion.

Live Nation shares have decreased slightly more than 1 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $25.76, a rise of 22 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LYV at http://www.zacks.com/ap/LYV

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Keywords: Live Nation, Earnings Report