Shares of Ticketmaster Entertainment Inc. (TKTM) have slipped approximately 8% so far today after second-quarter results came in behind expectations.
The company reported adjusted earnings of 20 cents per share, missing the Zacks Consensus Estimate by 20%.
Revenue declined 7% to $355.1 million, as ticketing volumes dipped 11% while average revenue per ticket fell 7%.
Meanwhile, the Zacks Consensus Estimate for the full year is down 2 cents, or 2.4%, to 83 cents per share over the past week.
TKTM, a Zacks #4 Rank (“Sell”) stock, is trading on unusually heavy volume of about 981,000, compared to the average daily volume of about 353,000.
“TKTM” Free Stock Analysis: Buy? Sell? Hold?
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