FMP
Nov 12, 2024 1:05 PM - Davit Kirakosyan
Image credit: FMP
Live Nation Entertainment (NYSE:LYV) posted impressive third-quarter earnings, surpassing analyst expectations and boosting shares by more than 6% pre-market today. The company, known for its concert promotion and ticketing services, reported adjusted earnings per share of $1.66, exceeding the forecast of $1.61. Revenue reached $7.7 billion, just shy of the anticipated $7.77 billion, but marked a 4% increase compared to the same period last year.
The third quarter underscored Live Nation’s busiest summer concert season to date, with a concert schedule that continues to expand. Its Concerts division achieved record profitability, delivering an adjusted operating income of $474 million—up 39% year-over-year. This growth was primarily fueled by the popularity of shows in arenas and amphitheaters, with attendance seeing double-digit increases in these venues.
Demand remained high as October’s ticket sales jumped 15% overall, with concert-specific ticket transactions rising by 23%. For the upcoming year, the company has already sold over 20 million tickets for 2025 shows, a double-digit improvement from the same period in the prior year.
Despite some revenue and income pressure from foreign exchange fluctuations, especially in Latin American markets, Live Nation upheld its outlook for full-year adjusted operating income growth. The company anticipated that its adjusted operating income to free cash flow conversion would remain in line with historical patterns, reflecting a steady momentum in both fan interest and financial performance.
May 14, 2024 11:41 AM - Sanzhi Kobzhan
A stock's target price, also known as its fair value, is an indication of what a share can cost based on the company’s forecasted financial statements. It is important to know a stock's fair value to find undervalued stocks with great growth potential. Let's consider how investment analysts calculat...
May 24, 2024 9:30 AM - Rajnish Katharotiya
Earnings call transcripts are invaluable resources for investors, analysts, and financial enthusiasts. They provide insights into a company's performance, strategy, and future outlook, making them essential for making informed investment decisions. With Financial Modeling Prep, Earnings Call Transcr...
May 27, 2024 3:30 PM - Rajnish Katharotiya
In the ever-evolving world of technology, certain sectors have consistently demonstrated exceptional growth and innovation. The graphics processing units (GPUs) industry is one such sector, offering investors a golden opportunity for potentially high returns. In this blog, we'll delve into why inves...