Live Nation Ticket Sales and Revenue Rise, But Losses Continue

Concert and ticketing giant Live Nation Entertainment reported earnings for their second fiscal quarter yesterday,  showing an increase in net income of $58.1 million for the quarter, compared to $7.7 million from the same time period in the previous year. Revenue for the first quarter was up as well, rising 8% to $1.68 billion from $1.55 billion a year ago. The company is still operating in the red however, and reported an overall loss this year of $41.5 million for both fiscal quarters,

Live Nation saw solid revenue growth in their concerts, posting an increase of 10.9% from the same period in 2012. Revenue from ticketing operations was up as well, to 337.8 million, a 2.7% increase from the prior year. Sponsorship and advertising was also a bright spot in the earnings report, showing an improvement of 16.2% to $71.2 million from Q2 2012. Artist Nation however, saw a sharp downturn, posting a decline in revenue of 8.7% and an adjusted operating income loss of 43%.

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