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| Live Nation Entertainment (LYV) reports second-quarter net loss of $34.61 million |
 Live Nation Entertainment (NYSE: LYV) released financial results for the three months ended June 30, 2010 today. Live Nation completed its merger with Ticketmaster in January 2010; consequently, second quarter 2010 reported results include the legacy Ticketmaster operations for the full quarter. The loss of $34.61 million, compared to a loss of $27.20 million in the prior year quarter. On a per share basis, net loss was $0.20, compared to $0.33 in the same quarter last year. According to Stockmarketsreview.com, on average, three analysts polled by Thomson Reuters expected the company to report a loss of $0.02 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues for the quarter was $1.27 billion, up from $1.05 billion in the comparable quarter last year. Analysts expected the company to report revenue of $1.36 billion for the quarter.
"Our second quarter results were in line with our plan and financial guidance for the full year," said Michael Rapino, President and Chief Executive Officer of Live Nation Entertainment. "Our performance to date reflects the impact of the uncertain economy on consumers, offset in part by our efforts to aggressively promote, price and expand access to concerts across our global platform. We have now largely completed the integration of Live Nation and Ticketmaster and we are generating considerable progress in driving efficiencies across our combined business. As we head into our biggest quarter, we are executing a range of revenue enhancement programs, while taking additional steps to reduce our operating expenses." "Key artist tours anticipated during the summer and balance of the year for our artist management business include the Eagles, Jimmy Buffett, Kid Rock, Kings of Leon and the Scorpions, just to name a few, and it is their success that will help fuel our company's growth," said Irving Azoff, Executive Chairman of Live Nation Entertainment. "As we look to the future, we are more confident than ever in our belief that Live Nation Entertainment has a unique business model to service artists and fans." Related Articles: Live Nation Unloads U.K. Theatre Division for Approximately U.S. $160 Million Live Nation
, the world's largest live music company, recently announced that it has
closed the sale of its remaining U.K. theatrical venues and operations
to The Ambassador Theatre Group, an owner and operator of regional
theatres in the United Kingdom. In addition, on October 23, 2009,... MTV Responds to Reports About 'MTV EMAs Present U2 at the Brandenburg Gate' MTV wants to ensure that the 10,000 music fans expected to attend tonight's production enjoy a safe and happy experience. The safety and well-being of all attendees at any MTV produced event
is of the highest priority. MTV worked closely with our local promoter
DEAG, the Borough of Berlin and the... Live Nation Reports Strong Third Quarter Results Live Nation (NYSE: LYV) released financial results for the three months ended September 30, 2009 today.
“We generated robust organic growth from our operations during the third quarter as we focused on executing our fundamentals with excellence during the peak concert season,” said... Live Nation, Ticketmaster profits take a hit due to Proposed Merger
Live Nation and Ticketmaster
Entertainment Inc. both stated that their earnings were hurt by
costs related to the proposed deal, which is expected to continue into 2010 as
regulators examine antitrust issues.
Comcast Jumps into Ticketmaster Live Nation Merger Fray According to recent reports from Bloomberg, Comcast is looking to help ease the Ticketmaster Live Nation merger by massaging and lobbying for the marriage. Comcast is the largest U.S. cable operator and controls an
arena-management as well as a ticketing company.
Concert Videos Come to iTunes in Live Nation-Apple deal Apple iTunes on Tuesday began featuring downloads of live concerts by about 20 artists who are promoted by Live Nation.
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