Live Nation quarterly loss narrows
Thu May 8, 4:53 PM ET
The company, which is moving more directly into selling tickets and representing artists, said its first-quarter net loss was $35.4 million, or 47 cents per share, down from $45 million, or 69 cents per share, a year ago.
Revenue rose to $636.5 million from $520.3 million.
The revenue beat Wall Street forecasts, which averaged $568 million, according to Reuters Estimates.
Michael Rapino, chief executive officer of Live Nation, said ticket sales to date remain strong despite the economic slowdown, noting the first quarter represented a solid start to what Live Nation expects will be a very healthy year for concerts globally.
(Reporting by Michele Gershberg, editing by Richard Chang)
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