- Share this article on Facebook
- Share this article on Twitter
- Share this article on Email
- Show additional share options
- Share this article on Print
- Share this article on Comment
- Share this article on Whatsapp
- Share this article on Linkedin
- Share this article on Reddit
- Share this article on Pinit
- Share this article on Tumblr
Shares of Live Nation Entertainment were advancing 6 percent during the after-hours session and the concerts and events company posted quarterly earnings per share of 30 cents, besting the expectations of analysts by a hefty 19 cents.
The nation’s largest ticket seller and promoter of concerts said Tuesday that operating income rose 9.5 percent to $159.9 million and net income was $58.1 million, up from $7.7 million a year earlier.
PHOTOS: Leslie Moonves, David Zaslav, Robert Iger: 10 Highly Paid Entertainment CEOs
Revenue of $1.68 billion bested projections of $1.63 billion. Last year in the same quarter the company reported $1.55 billion in revenue.
The company said it sold 19.5 million concert tickets during the quarter, up from 18.6 million, and 8.1 million sports tickets, up from 7.7 million.
“The positive trend in our concert ticket sales from the beginning of the year has continued with concert attendance up 8 percent for the quarter,” said CEO Michael Rapino.
Shares of Live Nation sunk 2 percent to $16.32 Tuesday during the regular session but were up more than $1 after the closing bell.
Sign up for THR news straight to your inbox every day
More from The Hollywood Reporter
Jonathan Majors Arrested for Alleged Assault, Rep Says Actor “Has Done Nothing Wrong”
The Woman King
Gina Prince-Bythewood to Be Honored at Black Business Association Salute to Black Women Event
Jeremy Renner Says Snowplow Involved in New Year’s Day Accident Is “Finally Making Her Way Back Home”