: Live Nation has ‘strongest quarter ever,’ with revenue up more than 30% and 140 million tickets sold

Shares of Live Nation Entertainment Inc. LYV rose nearly 4% in the extended session Thursday after the Ticketmaster operator said it delivered its “strongest quarter ever” as it rode a shift in people’s spending toward experiences and its global reach grew. Live Nation earned $483.5 million, or $1.78 a share, in the quarter, compared with $361.4 million, or $1.39 a share, in the year-ago period. Revenue rose 32% to $8.2 billion. FactSet consensus called for earnings of $1.26 a share on revenue of $7 billion. “While we have benefited from tailwinds for many years, it has accelerated due to the globalization of our business along with a fundamental shift in consumer spending habits toward experiences,” Chief Executive Michael Rapino said in a statement. The company said it sold 140 million tickets in the year to date, up 17% year-on-year and already surpassing the sale of 121 million tickets for all of last year.

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