Name of opportunity: 👀
Live Nation Entertainment, Inc
Q2 earnings report is out: 📨
At the end of July, Live Nation released its earnings report covering the second quarter of 2024 which ended on 30 June. Against the second quarter of 2023, revenue is up by 7%, reaching $6 billion this quarter alone. Operating income is also up 21% to $466 million.
However, operating expenses were higher than predicted, meaning that the company did not meet analyst’s Q2 profit estimates, which caused the stock price to drop by 3%. The company also did not meet earnings per share (EPS) expectations, reaching a figure of $1.03 instead of the estimated $1.06.
How hot is this investment opportunity? 🔥🔥🔥
Analysts think that the price of Live Nation Entertainment, Inc. will increase from $94.29 to $118.06 in the next 12 months. If you invested $1000, you might profit $262.80.
One reason for this is the company’s confidence, shared in its Q2 earnings report. The year to date ticket sales are already higher than the ticket sales for the equivalent time period in 2023, and international markets are looking especially strong. For example, in the year to date, ticket sales in Mexico have risen by 15%.
Some analysts have highlighted the sheer strength of Live Nation’s ticket sales numbers as one reason why this company could be a great addition to any investor’s portfolio. However, for other analysts, the failure to meet profit and EPS expectations is a red flag.
Front row seats: 🎶
Live Nation Entertainment, Inc. is a live entertainment ticketing, sales, and marketing company. The company is a producer of live music concerts and it operates through three segments: Concerts, Ticketing, and Sponsorship & Advertising. It’s worth bearing in mind that Ticketmaster, one of the companies owned by Live Nation, is currently in trouble with the law in its home country, the US. It is being brought to court for ‘anticompetitive’ behaviour and operating what has been called an ‘illegal monopoly’. The US Department of Justice sued Live Nation in May and the case is ongoing.
Which neme?: 🔍
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