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Live Nation Shares Up 7% After Record Quarter, Universal Music Shares Gain on Earnings & TikTok Renewal
Live Nation shares climbed 7.2% after record first quarter results were released and management commented about a potential antitrust lawsuit.
Shares of Live Nation jumped 7.2% to $94.66 on Friday following the company’s earnings report on Thursday (May 2), which showed the concert promotion and ticketing giant had a record first quarter. Commenting about an April 16 Wall Street Journal article about a pending DOJ lawsuit, president and CFO Joe Berchtold dismissed the notion that regulators could force Live Nation to sever its concert promotion and ticketing businesses. Universal Music Group shares climbed 4.9% to 28.92 euros ($31.16) following its first-quarter earnings release on Thursday and its announcement of a renewed licensing deal with TikTok.
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