Live Nation (LYV) Beats Q3 Earnings Estimates

Core Insights - Live Nation (LYV) reported quarterly earnings of $1.66 per share, exceeding the Zacks Consensus Estimate of $1.58 per share, but down from $1.78 per share a year ago, representing an earnings surprise of 5.06% [1] - The company posted revenues of $7.65 billion for the quarter ended September 2024, missing the Zacks Consensus Estimate by 1.33% and down from $8.15 billion year-over-year [2] - Live Nation shares have increased approximately 31.4% year-to-date, outperforming the S&P 500's gain of 25.7% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$1.03 on revenues of $5.98 billion, and for the current fiscal year, it is $1.16 on revenues of $23.56 billion [7] - The estimate revisions trend for Live Nation is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Industry Context - The Leisure and Recreation Services industry, to which Live Nation belongs, is currently ranked in the top 27% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]