Live Nation Q3 2026 earnings: revenue up 19% to $10.1 billion

What the quarter showed. According to the Live Nation release, third-quarter 2026 revenue was $10.1 billion, against $8.5 billion a year earlier. Operating income rose 13% to $892 million. Adjusted operating income (AOI, the measure the company treats as its core profit figure) reached $1.18 billion, up 14%. Each of the three segments grew AOI by double digits.

Where revenue came from. Concerts brought in $8.7 billion, up 20%. Ticketing added $870 million, up 9%. Sponsorship and advertising added $506 million, up 14%. Event-related deferred revenue, which is money paid for future shows, reached $3.8 billion, up 8%.

Growth outside the U.S. International attendance rose 29%. The company says that year to date, international markets passed the U.S. in concert attendance and in sponsorship revenue. For a reader who follows the stock, this is the key point: demand is growing beyond the old home market.

What the market data says. According to Zacks (via Yahoo Finance), earnings per share, adjusted for one-off items, were $1.69 against a consensus of $1.5 and $0.73 a year earlier. Revenue beat the Zacks consensus by 5.55%. The shares are up about 28.6% since the start of the year, while the S&P 500 is up 12.3%. Zacks itself says the price reaction depends on management's comments on the earnings call.

Cash and debt. Year to date, operating cash flow was $2.1 billion, up 45%. Capital spending for nine months is $722 million, and the company plans nearly $1.1 billion for the full year, mostly on venues. An October refinancing extended debt maturities to 2031. 80% of the debt is fixed-rate, and the average cost of debt is 4.3%.

What comes next. The company expects nearly 180 million fans in 2026. Ticket sales for 2026 were up 13% to about 170 million through late October. Secondary ticket value was flat, which the company links to efforts to constrain scalper sales. This is a news summary, not advice.

Confirmed facts

• Live Nation's third-quarter 2026 revenue was $10.1 billion, up 19% from the third quarter of 2025.^[1][2][3]
• Operating income was $892 million, up 13%; adjusted operating income (AOI) was $1.18 billion, up 14%; AOI grew by double digits in each of the three segments.^[1][2]
• Attendance grew 19% to 61 million fans; international attendance rose 29% and accounted for 60% of total growth.^[1][2]
• Segment revenue: concerts $8.7 billion (up 20%), ticketing $870 million (up 9%), sponsorship and advertising $506 million (up 14%).^[1][2]
• Event-related deferred revenue in the third quarter was $3.8 billion, up 8%.^[1][2]
• Year to date, international markets passed the U.S. in concert attendance and in sponsorship revenue.^[1]
• Ticket sales for 2026 were up 13% to about 170 million through late October; the company expects nearly 180 million fans for the year.^[1]
• Fee-bearing tickets were 98 million, up 10%; secondary ticket value was flat.^[1]
• Year-to-date operating cash flow was $2.1 billion, up 45%; capital spending was $722 million, with nearly $1.1 billion expected for the year.^[1]
• An October refinancing extended debt maturities to 2031; 80% of debt is fixed-rate, with a weighted average cost of debt of 4.3%.^[1]
• Earnings per share, adjusted for one-off items, were $1.69 against a Zacks consensus of $1.5 and $0.73 a year earlier; revenue beat the consensus by 5.55%.^[3]
• The shares are up about 28.6% year to date, against 12.3% for the S&P 500.^[3]
• The Zacks consensus for the next quarter is a loss of $1.28 per share on $7.02 billion in revenue.^[3]

Implications

• ConfirmedThird-quarter 2026 was a record quarter for Live Nation by revenue, and the growth leans on markets outside the U.S.
• Our readingOperating margin (operating income divided by revenue) slipped from 9.3% to 8.8%, because profit grew more slowly than revenue. This is our calculation from the release.
• Our readingIf international demand holds, it is easier for the company to keep double-digit growth. This is our view, not a forecast.

Still unknown

• How the market will judge the report and what management says on the investor call
• Whether the fourth quarter lands near the Zacks consensus: a loss of $1.28 per share on $7.02 billion in revenue
• Whether attendance growth outside the U.S. holds in 2027

Who it affects

World, United States, Europe. People who follow LYV stock, the live music industry and the ticketing business

Sources

1. Live Nation Entertainment: Live Nation Entertainment Reports Third Quarter 2026 Results November 5, 2026 · official
2. The Hollywood Reporter: Live Nation Reports $10.1 Billion In Revenue In Jump From Last Year November 5, 2026 · media
3. Zacks Investment Research via Yahoo Finance: Live Nation (LYV) Q3 Earnings and Revenues Surpass Estimates November 5, 2026 · media