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Stock impact report

Cramer pinpoints what Live Nation's earnings report revealed about consumer habits [CNBC]

Live Nation Entertainment, Inc. (LYV) 
Last live nation entertainment, inc. earnings: 10/31 04:01 pm Check Earnings Report
Company Research Source: CNBC
show chapters Sometimes, Jim Cramer finds companies that shed light on what consumers like to do and where they are really spending their money. That's why the Mad Money host was so fascinated by Wednesday's earnings report from Live Nation Entertainment , the TicketMaster parent that produces live events like music festivals. Live Nation's report topped Wall Street's estimates. The company reported a second-quarter profit of $62.6 million on revenue of $2.82 billion, as opposed to the expected $2.35 billion. Cramer said that when he first met Live Nation CEO Michael Rapino at Dreamforce, Salesforce's annual innovation-themed conference, Rapino outlined a plan for Live Nation to buy various festivals around the country and use them to boost TicketMaster's reach. Now the company's plan to build that network of festivals is being put into action and it's generating staggering numbers worldwide, with operating revenues up 29 percent, operating i Show less Read more
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