12:33 ET - Live Nation investors aren't satisfied with the ticket provider's fan base growth, Oppenheimer analyst Jed Kelly says. Live Nation's customer base is growing 2%, Kelly says, causing investor angst, as the stock is down 6% to $141.26 on Wednesday. Third-quarter sales came in below analyst expectations at $8.5 billion versus the $8.57 billion consensus estimate. Management said the slower fanbase growth is from fewer shows in the quarter, rather than a structural demand issue. Kelly lowers his expectation for 2026 adjusted operating income by 5% on reduced ticketing margins and cuts his price target to $175 from $180. ( katherine.hamilton@wsj.com )
(END) Dow Jones Newswires
November 05, 2025 12:33 ET (17:33 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.