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"I am confident that in 2014 we will deliver our fourth consecutive year of revenue, AOI and free cash flow growth, grow the profitability of each of our business, stay on track to deliver our 2015 financial plans and operationally continue to invest in and build all of our businesses to drive continued growth."
—--CEO Michael Rapino
Tuesday, May 6, 2014

YOUR LIVE NATION EARNINGS
IN A NUTSHELL

Revenue Up 22% to $1.13 Billion; All Four Divisions Contribute to Growth
Live Nation released its numbers for the first quarter, and Michael Rapino and company are celebrating an 22% increase in revenue to $1.13 billion (against $923.7 million last year).

Adjusted operating income grew 56% to $83m, operating income was up 63% and free cash flow increased by 138%.

All four segments of the company, the report notes, contributed to this growth. The company hailed an 11% spike in concert attendance, accounting for $663m (+29%), with ticket sales climbing 5% and mobile sales of those tickets climbing to 16% of the total. Ticketing revenue was $355m (+9%). Management division Artist Nation reported $73m in revenue (+44%). Sponsorship & Advertising saw $45m in revenue (+13%).

LN posted a net loss of $32.4m or $0.16 per share, a smaller drop than the $63.2m/$0.33 per share loss of Q1 2013.

Given these results, declared Rapino, "I am confident that in 2014 we will (1) deliver our fourth consecutive year of revenue, AOI and free cash flow growth, (2) grow the profitability of each of our business, (3) stay on track to deliver our 2015 financial plans and (4) operationally continue to invest in and build all of our businesses to drive continued growth."

Today’s numbers beat the forecasts of Thomson Reuters analysts by about $50m and $0.19 per share.

 
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