Live Nation reports fourth-quarter loss, misses expectations

MarketsAssociated Press

Live Nation Entertainment Inc. (LYV) on Thursday reported a loss of $186.5 million in its fourth quarter.

The Beverly Hills, California-based company said it had a loss of 94 cents per share. Losses, adjusted for asset impairment costs, came to 41 cents per share.

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The results did not meet Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for a loss of 40 cents per share.

The ticket seller and concert promoter posted revenue of $1.57 billion in the period, which also did not meet Street forecasts. Analysts expected $1.62 billion, according to Zacks.

Live Nation shares have dropped 1 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $25.85, an increase of 9 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