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Live Nation stock rallies 7% after narrower loss, company cites ‘incredible’ demand for live concerts

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Shares of Live Nation Entertainment Inc. jumped nearly 7% in the extended session Thursday after the company reported a narrower-than-expected adjusted loss...

Shares of Live Nation Entertainment Inc. LYV jumped nearly 7% in the extended session Thursday after the company reported a narrower-than-expected adjusted loss for its first quarter and revenue that was well above Wall Street forecasts, saying that the quarterly beat reflected “incredible” demand for live concerts. Live Nation said it lost $3.17 million, or 25 cents a share, in the quarter, compared with a loss of $50 million, or 39 cents a share, in the year-ago quarter.

LYV jumped nearly 7% in the extended session Thursday after the company reported a narrower-than-expected adjusted loss for its first quarter and revenue that was well above Wall Street forecasts, saying that the quarterly beat reflected “incredible” demand for live concerts. Live Nation said it lost $3.17 million, or 25 cents a share, in the quarter, compared with a loss of $50 million, or 39 cents a share, in the year-ago quarter. Revenue rose 73% to $3.1 billion, the company said.

 

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