Live Nation Reports $186.5 Million Loss In Fourth Quarter

Live Nation Entertainment Inc. (LYV) on Thursday reported a loss of $186.5 million in its fourth quarter.

The Beverly Hills, California-based company said it had a loss of 94 cents per share. Losses, adjusted for asset impairment costs, came to 41 cents per share.

The results did not meet Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for a loss of 40 cents per share.

The ticket seller and concert promoter posted revenue of $1.57 billion in the period, which also did not meet Street forecasts. Analysts expected $1.62 billion, according to Zacks.

Live Nation shares have dropped 1 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $25.85, an increase of 9 percent in the last 12 months.