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Thursday, August 07, 2008
Live Nation posts a 2Q slim profit
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Concert company Live Nation Inc. says its net profit in the second quarter shrank 88 percent to $1.2 million, or two cents a share.

The results, however, beat Wall Street analysts' expectation of a loss.

Revenue rose 18 percent to $1.16 billion in the quarter to June, up from $986 million a year ago.

Analysts, on average, expected a loss of 20 cents per share, on revenue up 1 percent to $1.05 billion, according to Thomson Financial.

The Los Angeles-based company said Thursday that the number of concerts, ticket sales and spending per fan rose during the quarter, despite the weakened economy.
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