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Compared to Estimates, Live Nation (LYV) Q3 Earnings: A Look at Key Metrics
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Live Nation (LYV - Free Report) reported $8.15 billion in revenue for the quarter ended September 2023, representing a year-over-year increase of 32.5%. EPS of $1.78 for the same period compares to $1.39 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $6.89 billion, representing a surprise of +18.36%. The company delivered an EPS surprise of +40.16%, with the consensus EPS estimate being $1.27.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Live Nation performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Estimated events - Total: 12,090 thousand versus 11,186.07 thousand estimated by four analysts on average.
Estimated number of fee-bearing tickets: 89,300 thousand compared to the 76,233.99 thousand average estimate based on four analysts.
Estimated fans - Total: 52,277 thousand versus the four-analyst average estimate of 48,094.46 thousand.
Estimated events - North America: 9,080 thousand versus the four-analyst average estimate of 8,356.88 thousand.
Estimated events - International: 3,010 thousand versus 2,968.18 thousand estimated by four analysts on average.
Estimated number of non-fee-bearing tickets: 66,083 thousand compared to the 65,017.76 thousand average estimate based on three analysts.
Total estimated tickets sold: 155,383 thousand versus 140,961.1 thousand estimated by three analysts on average.
Estimated fans - North America: 34,192 thousand versus the three-analyst average estimate of 31,616.44 thousand.
Revenue- Concerts: $6.97 billion versus the seven-analyst average estimate of $5.98 billion. The reported number represents a year-over-year change of +31.8%.
Revenue- Other and Eliminations: -$21.70 million versus the seven-analyst average estimate of -$18.55 million. The reported number represents a year-over-year change of +58.4%.
Revenue- Sponsorship & Advertising: $366.80 million versus $368.94 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +6.9% change.
Revenue- Ticketing: $832.60 million versus the seven-analyst average estimate of $615.10 million. The reported number represents a year-over-year change of +56.6%.
Shares of Live Nation have returned -4.4% over the past month versus the Zacks S&P 500 composite's -1.1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Compared to Estimates, Live Nation (LYV) Q3 Earnings: A Look at Key Metrics
Live Nation (LYV - Free Report) reported $8.15 billion in revenue for the quarter ended September 2023, representing a year-over-year increase of 32.5%. EPS of $1.78 for the same period compares to $1.39 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $6.89 billion, representing a surprise of +18.36%. The company delivered an EPS surprise of +40.16%, with the consensus EPS estimate being $1.27.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Live Nation performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Estimated events - Total: 12,090 thousand versus 11,186.07 thousand estimated by four analysts on average.
- Estimated number of fee-bearing tickets: 89,300 thousand compared to the 76,233.99 thousand average estimate based on four analysts.
- Estimated fans - Total: 52,277 thousand versus the four-analyst average estimate of 48,094.46 thousand.
- Estimated events - North America: 9,080 thousand versus the four-analyst average estimate of 8,356.88 thousand.
- Estimated events - International: 3,010 thousand versus 2,968.18 thousand estimated by four analysts on average.
- Estimated number of non-fee-bearing tickets: 66,083 thousand compared to the 65,017.76 thousand average estimate based on three analysts.
- Total estimated tickets sold: 155,383 thousand versus 140,961.1 thousand estimated by three analysts on average.
- Estimated fans - North America: 34,192 thousand versus the three-analyst average estimate of 31,616.44 thousand.
- Revenue- Concerts: $6.97 billion versus the seven-analyst average estimate of $5.98 billion. The reported number represents a year-over-year change of +31.8%.
- Revenue- Other and Eliminations: -$21.70 million versus the seven-analyst average estimate of -$18.55 million. The reported number represents a year-over-year change of +58.4%.
- Revenue- Sponsorship & Advertising: $366.80 million versus $368.94 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +6.9% change.
- Revenue- Ticketing: $832.60 million versus the seven-analyst average estimate of $615.10 million. The reported number represents a year-over-year change of +56.6%.
View all Key Company Metrics for Live Nation here>>>Shares of Live Nation have returned -4.4% over the past month versus the Zacks S&P 500 composite's -1.1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.