Live Nation (LYV) reported earnings 30 days ago. What's next for the stock?
The United States Department of Justice filed a major lawsuit against Live Nation-Ticketmaster in May, arguing that the entertainment giant is acting as a monopoly. An additional 10 state attorneys general joined the suit this week, bringing the total to 39 states and the District of Columbia.
Justice Department and several states sued three months ago to break up Live Nation, arguing the concert promoter and Ticketmaster illegally inflated concert ticket prices.
Concert giant of monopolistically inflating ticket prices and hurting artists in suit now including 26 states and DC
Ten additional states have joined the U.S. Justice Department's lawsuit against Live Nation-Ticketmaster for monopolizing markets across the live concert industry, the department said on Monday.
Live Nation Entertainment remains a buy with a positive long-term growth outlook and strong 2Q24 results. Strong underlying demand indicators include ticket sales growth, venue expansion, and increased spending per fan. Positive AOI growth improves balance sheet strength, allowing for potential share buybacks and higher CAPEX funding.
Concerns have grown about concert-ticket sales. But Ticketmaster parent and concert-industry giant Live Nation Entertainment Inc. is seeing none of it.
Live Nation's (LYV) second-quarter 2024 results reflect robust live events demand globally, resulting in increased ticket sales. The international market primarily aided the uptrend.
Live Nation Entertainment's second-quarter results missed expectations and reiterated an underwhelming profit story. Despite dominating the live event industry, Live Nation's business model is not generating consistent earnings for investors. LYV stock valuation remains detached from reality, with no material profits to speak of and constant dilution of shareholders.
The headline numbers for Live Nation (LYV) give insight into how the company performed in the quarter ended June 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Live Nation Entertainment, Inc. (NYSE:LYV ) Q2 2024 Earnings Conference Call July 30, 2024 5:00 PM ET Company Participants Amy Yong - Head of IR Michael Rapino - President & CEO Joe Berchtold - President & CFO Conference Call Participants Stephen Laszczyk - Goldman Sachs Brandon Ross - LightShed Partners David Karnovsky - JPMorgan Cameron Mansson-Perrone - Morgan Stanley Peter Supino - Wolfe Research Barton Crockett - Rosenblatt Securities Operator Greetings, and welcome to the Live Nation Entertainment Second Quarter 2024 Earnings Call. At this time, all participants are in a listen-only mode.
Live Nation (LYV) came out with quarterly earnings of $1.03 per share, beating the Zacks Consensus Estimate of $0.98 per share. This compares to earnings of $1.02 per share a year ago.