Live Nation Entertainment Q4 Earnings Highlights: Taylor Swift Effect Continues With Record Attendance, Ticket Sales For Full Year
Portfolio Pulse from Chris Katje
Live Nation Entertainment (NYSE:LYV) reported Q4 revenue of $5.84 billion, up 36% YOY, beating estimates. Adjusted EPS was $1.37, surpassing expectations of a $1.03 loss per share. Full-year revenue reached $22.7 billion, a 36% increase YOY, with record attendance, ticket sales, and sponsorship. The company anticipates growth in 2024, especially in Q2 and Q3. Despite positive results, LYV shares dropped 1% in after-hours trading.
February 22, 2024 | 9:51 pm
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Live Nation reported a significant beat on Q4 earnings and revenue, with a 36% YOY increase in revenue and adjusted EPS of $1.37. The company also reported record attendance, ticket sales, and sponsorship revenue for the full year.
Despite Live Nation's strong Q4 performance and positive outlook for 2024, shares dropped 1% in after-hours trading. This decline could be due to market reactions to immediate financial results or profit-taking after the announcement. The significant beat on earnings and revenue, along with record metrics, suggests strong operational performance, but the short-term stock price movement indicates a negative market reaction.
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