UPDATE: Live Nation Q2 Earnings Down 42%

Live Nation Entertainment

reported a 42% drop in its second-quarter earnings. Live Nation's quarterly earnings fell to $7.7 million, or $0.04 per share, versus $13.3 million, or $0.07 per share, in the year-ago period. Its revenue declined 0.5% to $1.55 billion. However, analysts were expecting earnings of $0.04 per share on revenue of $1.55 billion. Live Nation shares closed at $9.13 yesterday.