Live Nation Entertainment Inc.(LYV: Quote) reported that its fourth-quarter adjusted operating income declined to $50.7 million from $56.8 million in the year ago quarter. Revenues for the quarter decreased to $1.19 billion from $1.24 billion in the same quarter last year.
The company announced that its fiscal 2011 net loss attributable to the company narrowed to $83.02 million or $0.46 per share, from $228.39 million or $1.39 per share for the prior year. Revenues for the year were $5.38 billion, up from $5.06 billion in last year.
Analysts polled by Thomson Reuters expected the company to report a loss of $0.22 per share on revenues of $5.33 billion for fiscal 2011. Analysts' estimates typically exclude special items.
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by RTT Staff Writer
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