Ticket Sales Boost Live Nation’s Q2

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Shares in Live Nation Inc. shot up nearly 10 percent Friday after the company reported strong earnings on robust ticket sales.


Live Nation reported second-quarter net income of $9.9 million (15 cents per share), a 2 percent increase from $9.7 million (15 cents) from the same period a year earlier. The results beat Wall Street’s estimates of a 1 cent profit handily.


Revenue for the Beverly Hills-based live entertainment venue owner and promoter rose 34 percent to $1.04 billion thanks mainly to higher ticket prices at arena shows and the acquisition of House of Blues clubs. The results also beat analysts’ forecasts of $861 million.


Shares in Live Nation gained $1.78, or 9.2 percent, to $21.20 in afternoon trading Friday on the New York Stock Exchange.

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