Live Nation Beats On Earnings; Guidance Indicates Growth

Live Nation LYV beat on consensus EPS estimates Thursday, with Q2 EPS coming in at $0.11, which beat consensus EPS estimates of $0.05.

The earnings beat moved the stock higher by 1.78 percent in Thursday's after-hours trading.

Live Nation CEO Michael Rapino said:

“The full year continues to be on track and I remain confident that in 2014 we will deliver our fourth consecutive year of revenue, AOI and free cash flow growth and grow the profitability of each of our businesses. Longer term, I continue to see great ongoing growth opportunities for the company. We believe that the underlying demand for 'live' continues to be strong globally, and as one of the few truly borderless businesses we have numerous opportunities to increase our share; and we have now shown that we can effectively drive scale in concerts and build out from that our sponsorship and ticketing businesses.”

The guidance provided doesn't give an exact number to work with, but it does give analysts and investors a basic idea that full-year revenue and profitability will grow in the second half.