Taylor Swift Helps Paint A Love Story For Live Nation: Concert Promoter Reports Record-Breaking Q2, Sees Upside Ahead
Portfolio Pulse from Chris Katje
Live Nation Entertainment (NYSE:LYV) reported a record-breaking Q2 with revenues of $5.63 billion, up 27% YoY, beating the Street consensus estimate of $4.95 billion. Earnings per share were $1.02, also ahead of the Street consensus estimate of 63 cents. The company saw growth across concerts, ticketing, and sponsorship/advertising segments. The company's CEO, Michael Rapino, attributed the strong performance to global demand and a diverse pipeline of artists. The impact of Taylor Swift's record-breaking concert tour was also a likely contributing factor.
July 27, 2023 | 9:03 pm
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Live Nation reported a record-breaking Q2, beating estimates. The company saw growth across all segments, with the impact of Taylor Swift's record-breaking concert tour likely contributing.
The company's strong Q2 results, which beat estimates, along with the growth seen across all segments, are likely to have a positive impact on the company's stock. The impact of Taylor Swift's record-breaking concert tour, which was likely a contributing factor, could also boost investor confidence.
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