LYV - Live Nation Entertainment GAAP EPS of -$0.25 beats by $0.21 revenue of $3.13B beats by $860M

2023-05-04 16:43:44 ET

• Live Nation Entertainment press release ( NYSE: LYV ): Q1 GAAP EPS of -$0.25 beats by $0.21 .
• Revenue of $3.13B (+73.9% Y/Y) beats by $860M .
• Operating Income Up 5.3x to $143 Million
• AOI Up 53% to $320 Million
• Operating Cash Flow Reaches $1.2 Billion
• Adjusted Free Cash Flow Up Over 2x to $190 Million, Converting 59% of AOI.
• Our results for the first quarter demonstrate the success of our strategy and sets us up for strong growth in 2023.  We expect to host a record number of fans this year, even against a 2022 comparison which benefited from rescheduled shows attended by 20 million fans.  Ticketmaster should also deliver record activity, with around 600 million tickets managed globally this year.  Our sponsorship business, even after incredible growth last year, looks to be on track for double-digit AOI growth again this year.
• Shares +6.61% .

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