Live Nation Entertainment shares rose to a new record on Thursday in the wake of reporting better-than-expected Q2 results and as the company’s TicketWeb announced the acquisition of Strobe Labs, a marketing platform giving venues and promoters a way to learn more about their fans and engage them more effectively. The financial terms of the acquisition were not disclosed.
LYV was up 9% recently, in a new 52-week range between $25.56 and $41.91. The company late Wednesday reported Q2 earnings rose to $0.29 per share from $0.13 a year earlier, which was higher than the $0.19 expected on average by analysts in a Capital IQ poll. Revenue was $2.82 billion compared with $2.18 billion a year ago, which topped analysts forecast for $2.37 billion.