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Founded in 2010 as a merger between Live Nation and Ticketmaster, Beverly Hills, California-based Live Nation Entertainment Inc (LYV) is an entertainment company that specializes in producing, marketing, and selling tickets for live concerts and events. The company operates more than 100 event venues, including House of Blues, the Gramercy Theatre in New York, Wembley Arena in London, and FirstMerit Bank Pavilion in Chicago, among many others.
For the first quarter of fiscal 2015, business conditions for LYV thrived, primarily due to strong growth in the company’s ticketing business. Almost every financial category saw an increase, meaning LYV stayed on track to deliver on their overall 2015 plan. Its second quarter report continues this trend.
Currently, LYV has a Zacks Rank #3 (Hold) and is in the top 35% in the Zacks Industry Rank: Leisure & Rec SVS, but that could change following its fiscal second quarter 2015 earnings report. We have highlighted some of the key details from the just-released announcement below.
Earnings: LYV’s reported adjusted operating income is $151.2 million, up from $142 million a year ago. The Zacks Consensus Estimate for its EPS is $0.06 cents.
Revenue: Revenue is up 12% for the quarter at constant currency of $1.9 million, and the revenue inclusive of foreign exchange is at $1.8 billion.Both numbers beat the Zacks Consensus Estimate of $1.725 billion.
Key Stats: LYV’s concert ticket sales in the second quarter of 2015 were up 7% through July. The company’s mobile ticket sales were up 21% through the first half of fiscal 2015.
Stock Price: LYV was up $0.01, or 0.04%, to $25.77 as of 5:12 PM ET in after hours trading shortly after its earnings report was released.
Check back later for our full write up on this LYV earnings report later!
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LIVE NATION ENT (LYV): Free Stock Analysis Report
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