NEW YORK (TheStreet) -- Shares of Live Nation Entertainment (LYV) - Get Report are jumping 11.54% to $28.71 in after-hours trading on Thursday after the company's 2016 second quarter report showed increased revenue and higher ticket sales.
After today's market close, the Beverly Hills-based entertainment company said revenue for the period was $2.2 billion. This topped analysts' estimates of $1.88 billion.
The company also reported earnings of 13 cents per diluted share, higher than analysts' projections of 8 cents per share.
Sales in Live Nation's core concert ticket business grew 9.3% to 40.2 million tickets sold in the quarter.
Analysts at Albert Fried & Co. said the company "benefits from the demand by recording companies and artists to go on tour as a solution to thwart streaming revenue losses," according to a note cited by the Wall Street Journal.
The firm warned that international growth has recently been boosting Live Nation's results and that a "global economic slowdown" could stunt progress in the upcoming months.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "hold" with a ratings score of C-.
The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share and increase in net income. However, as a counter to these strengths, TheStreet Ratings finds weaknesses including generally higher debt management risk, poor profit margins and a generally disappointing performance in the stock itself.
You can view the full analysis from the report here: LYV