LYV - Live Nation jumps 7% amid signs of life as analysts look to concert rebound

Live Nation Entertainment (LYV) is up 6.7% after yesterday's Q1 earnings, where the company edged some heavily lowered revenue expectations and began to plot its way out of the low-revenue environment of the COVID-19 lockdowns. Revenues fell nearly 79% and operating income fell about 76%. The company estimated it ran 664 events worldwide in Q1, vs. a previous-year Q1 total of 7,095. The company said that $1.1B in free cash and available debt capacity gives it $2.1B in liquidity, which should allow for funding until an expected return of concerts this summer. Berenberg noted that on the conference call, the company said sales for tickets to New York's Governor's Ball had their best-ever first day, while big festivals Bonnaroo, Electric Daisy and Rolling Loud all sold out at full capacity in record time. That indicates that "demand (initially, at least, and primarily for outdoor events) is ample enough to soak up

For further details see:

Live Nation jumps 7% amid signs of life as analysts look to concert rebound