NEW YORK, NY / ACCESSWIRE / August 11, 2017 / Live Nation and Planet Fitness both soared to new highs on Thursday after announcing better than expected second quarter results. A large growth in ticket sales has Live Nation optimistic that 2017 will be a win year for the company. Planet Fitness was also encouraged by their growth in the number of stores the company has experienced in the last four years.

RDI Initiates Coverage on:

Live Nation Entertainment, Inc.
https://ub.rdinvesting.com/news/?ticker=LYV

Planet Fitness, Inc.
https://ub.rdinvesting.com/news/?ticker=PLNT

Live Nation Entertainment, Inc.'s shares closed up 5.63% on Thursday with roughly 13.5 million shares traded. The stock was one of the most active stocks on the NYSE yesterday and even hit a new high of $42.20 during intra-day trading. The new high came after the company reported second quarter financial results that topped Wall Street's view on Wednesday afternoon. Shares were climbing in after-hours trading that day and saw gains of 6.7%. The Ticketmaster parent reported net income of $81.5 million, or 29 cents a share for the period. This was above the 19 cents that analysts had been waiting for. It was also above the $37.7 million, or 13 cents a share, in the year ago quarter. Revenue at $2.82 billion was also higher than the $2.37 billion that the Street expected and $2.18 billion reported in the year ago quarter. The company stated, "Our concerts business is our flywheel, selling over 68 million tickets to shows this year through July, 12 million more tickets than at this point last year. This demonstrates that we have built the industry's most scalable and unparalleled live platform, bringing over 550 million fans in 40 countries to live events each year. With key metrics in each of concerts, sponsorship, and ticketing pacing double digits ahead of last year, we are confident that 2017 will be another record year of results for Live Nation."

Access RDI's Live Nation Entertainment, Inc. Research Report at:
https://ub.rdinvesting.com/news/?ticker=LYV

Planet Fitness, Inc.'s shares closed up 9.07% on Thursday and soared to a new high of $25.19 during intra-day trading. The near record high for the stock came after the company reported second quarter financial results that beat on both the top and bottom line. The gym chain reported adjusted earnings per share of 22 cents. This was higher than the 19 cents that the Street expected. Revenue was also a win at $107.3 million compared to the $102 million expected. The results were also higher than the year ago quarter which was 17 cents per share on revenue of $91.5 million. Chief Financial Officer of the company, Dorvin Lively commented, "There are not a lot of retailers out there taking down 20,000-square-foot boxes [of real estate] a year. One of the benefits we get is we're one of the first ones to get called now, when something becomes available." The company's CEO Christopher Rondeau commented, "We've doubled the number of stores over the past four years to over 1,400 locations."

Access RDI's Planet Fitness, Inc. Research Report at:
https://ub.rdinvesting.com/news/?ticker=PLNT

Our Actionable Research on Live Nation Entertainment, Inc. (NYSE: LYV) and Planet Fitness, Inc. (NYSE: PLNT) can be downloaded free of charge at Research Driven Investing.

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