Live Nation Second-Quarter Profit Drops Missing Estimates
This article is for subscribers only.
Live Nation Entertainment Inc., the world’s biggest concert promoter and ticket seller, said second-quarter profit fell 42 percent, missing analysts’ estimates, as the company held fewer events.
Net income for the quarter slid to $7.69 million, or 4 cents a share, from $13.3 million, or 7 cents, a year ago, Beverly Hills, California-based Live Nation said yesterday in a statement. Analysts estimated an average 5-cent-a-share profit, excluding items, according to data compiled by Bloomberg.