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Thursday, Aug 11, 2022
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Earnings: Live Nation Beats, Oaktree Falls Short

Downtown Los Angeles investment manager Oaktree Capital Group reported third quarter earnings that missed estimates as it sold fewer holdings.

The company reported adjusted net income of $95.1 million (47 cents a share) for the quarter ended Sept. 30, compared to $179.6 million in the same quarter a year earlier. Revenue fell 23 percent, to $278.5 million.

Earnings, announced before markets opened, fell short of analysts’ expectations of 61 cents a share on revenue of $288 million. Oaktree shares fell $1.71, or about 4 percent, on Thursday to close at $46.50

Beverly Hills concert company Live Nation Entertainment Inc. reported net income of $105.2 million (49 cents a share) for the Sept. 30 quarter, up from $43.8 million in the same period a year earlier. Revenue rose 9 percent to $2.5 billion.

Earnings beat analysts’ expectations of 36 cents a share on revenue of $2.4 billion.

Earnings were announced after markets closed Thursday. Shares rose slightly, four tenths of a percent, in advance of the announcement.

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