Live Nation Entertainment Inc LYV reported financial results for the third quarter after the market close on Monday. Here’s a look at the key details from the quarter.

Q3 Earnings: Live Nation reported third-quarter revenue of $7.65 billion, beating analyst estimates of $7.77 billion, according to Benzinga Pro. The Ticketmaster parent company reported third-quarter earnings of $1.66 per share, in line with analyst estimates.

Operating income was $640 million in the quarter and $910 million on an adjusted basis. Live Nation said the third quarter marked its highest-ever concert profitability with adjusted operating income up 39%.

Live Nation noted it sold 144 million tickets for 2024 Live Nation concerts through October, up 3% year-over-year. Transacted October ticket sales for Ticketmaster were up 15% on all ticket volume and up 23% for concert events.

The company noted that nearly all of its expected sponsorship commitments for the year have been booked. Sponsorship revenue was up 6% in the quarter.

“We wrapped up our most active summer concert season ever, our show pipeline has never been bigger, and brand sponsorships are accelerating. While operating income will be impacted by one-time accruals, we are pacing toward double-digit AOI growth this year,” said Michael Rapino, president and CEO of Live Nation.

“As we look toward an even bigger 2025, we have a larger lineup of stadium, arena and amphitheater shows for fans to enjoy. Momentum continues to build, as we expand the industry’s infrastructure with music-focused venues to support artists and reach untapped fan demand across the globe.”

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Live Nation ended the quarter with $5.5 billion in cash and cash equivalents.

Live Nation’s CEO will host a conference call to further discuss the company’s quarterly results with analysts and investors at 5 p.m. ET.

LYV Price Action: Live Nation shares were up 4.62% after hours at $129.52 at the time of publication Monday, according to Benzinga Pro.

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