Live Nation (LYV) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Insights - Live Nation reported revenue of $6.02 billion for the quarter ended June 2024, reflecting a year-over-year increase of 7$1.03, compared to $1.02 a year ago, indicating a slight improvement [10] - The reported revenue was slightly below the Zacks Consensus Estimate of$6.04 billion, resulting in a revenue surprise of -0.27% [5] Concerts Performance - Total estimated concert events were 78.47 million, which fell short of the four-analyst average estimate of 83.52 million [2] - In North America, estimated concert events reached 4.69 million, exceeding the average estimate of 4.41 million [3] - International concert events were estimated at 75.13 million, slightly below the average estimate of 75.28 million [7] Ticketing Metrics - The estimated number of fee-bearing tickets sold was 38.89 million, slightly above the average estimate of 38.81 million [6] - The total estimated tickets sold, including non-fee-bearing tickets, was 23.19 million, surpassing the average estimate of 19.84 million [14] - The revenue from ticketing was reported at $4.99 billion, which is a 7.6$4.97 billion [15] Other Financial Metrics - Sponsorship and advertising revenue was reported at $312.20 million, below the average estimate of$337.45 million, but showing a year-over-year increase of 3.1% [17][18] - The company reported a loss of -$6.50 million, significantly better than the estimated loss of -$14.33 million, representing a year-over-year change of -56.1% [16] Stock Performance - Over the past month, Live Nation shares returned +0.7%, outperforming the Zacks S&P 500 composite's +0.1% change [19] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [19]