Ticketmaster Parent Live Nation Stock Hits Record High on Q3 Earnings Beat | Global News Avenue

Shares in Ticketmaster parent company Live Nation (lieShares soared Tuesday morning after the company’s third-quarter earnings beat expectations.

On Monday afternoon, the entertainment company reported revenue of $7.7 billion. incomeThat was slightly below analysts’ expectations of $7.8 billion, according to estimates compiled by Visible Alpha. Live Nation earned $1.66 per share for the quarter, beating the consensus estimate of $1.57 Earnings per share (EPS)but both revenue and earnings per share fell from the same period last year.

CEO Michael Rapino said Live Nation is wrapping up the company’s “most active summer concert season ever” and said a “larger” lineup for 2025 should continue to drive its results.

Shakira, Coldplay Arena Tour 2025 Headliners

Performance from Taylor Swift boosted results earlier this year The blockbuster “Eras Tour” The company said it expects stadium tours for artists including Shakira and Coldplay to take place in Canada next month to boost sales next year. Live Nation said it has sold 20 million tickets for 2025 shows and said arena tour ticket sales “achieved an average double-digit increase in total show revenue relative to past tours.”

Ticket sellers and venue owners still face The Justice Department’s attempt Live Nation and Ticketmaster merged in 2010 and then split. The U.S. Department of Justice accused Live Nation of monopolistic conduct in a lawsuit earlier this year that included intimidation and retaliation to force venues to use Ticketmaster for ticket sales.

Live Nation shares rose 6.5% in pre-market trading on Tuesday, reaching an all-time high of $131.78.