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Live Nation Entertainment, Inc. (NYSE:LYV) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 1.94%.
Live Nation Entertainment, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.87 in the quarter versus EPS of $-0.54 in the year-earlier quarter.
Revenue: Rose 21.21% to $1.44 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Live Nation Entertainment, Inc. reported adjusted EPS loss of $0.87 per share. By that measure, the company missed the mean analyst estimate of $-0.36. It beat the average revenue estimate of $1.29 billion.
Quoting Management: “During 2012, the company increased revenue by 8% and grew all our business segments while continuing to invest in our long-term ticketing platform,” said Michael Rapino, President and Chief Executive Officer of Live Nation Entertainment. “Our ongoing growth in operating profitability was driven by the continued success of our core business of bringing more fans to more events, with ticket sales growth of 4% at our concerts and 5% for Ticketmaster.”
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