Live Nation Shares Soar Following Record First Quarter Earnings Report

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The stock climbed 15% on Friday as the company beat consensus with over $3 billion in revenue and forecast a strong year ahead.

told investors on an earnings call that the company faced concerns about artist availability prior to the first quarter, only to see total show volume increase significantly over last year.

“Hopefully, we put that to bed,” he told investors. “We don’t think this has anything to do with pent-up demand or COVID rescheduling. That stuff has long been closed out in ’22. This is all about regular business and I think we’re thrilled to be sitting here today above and beyond last year’s numbers. It shows the global strength of the business from the amphitheater and the stadium to the club and the festival. We’re looking at all territories around the world and firing on all cylinders.

When it came to the availability of talent, Rapino said he had no concerns about the next generation of headliners, noting that “six of the top 10 artists were younger artists … there’s just a host of great new talent every year coming up, filling the pipe. We didn’t know

 

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