Key Takeaways

Shares of Ticketmaster's parent company Live Nation ( LYV ) surged Tuesday morning after the company's third quarter earnings came in better than expected.

On Monday afternoon, the entertainment company reported $7.7 billion in revenue , just below the $7.8 billion analysts had expected, according to estimates compiled by Visible Alpha. Live Nation made $1.66 per share for the quarter, above the consensus estimates of $1.57 earnings per share (EPS) , but revenue and EPS were both down from the same time last year.

CEO Michael Rapino said Live Nation is coming off of the company's "most active summer concert season ever," and said an "even bigger" lineup in 2025 should continue to fuel its results.

Shakira, Coldplay Arena Tours Headline 2025

After results earlier this year were boosted by Taylor Swift's blockbuster "Eras Tour," which will end with several shows in Canada over the next month, the company said it is looking ahead to stadium tours from acts like Shakira and Coldplay to drive sales next year. Live Nation said it has already sold 20 million tickets for 2025 shows, and said the arena tour ticket sales are "delivering double-digit average growth in show grosses relative to past tours."

The ticket seller and venue owner is still facing an attempt from the Department of Justice to break up Live Nation and Ticketmaster after their 2010 merger. The DOJ accused Live Nation of acting as a monopoly earlier this year in a lawsuit, including allegations of intimidation and retaliation to get venues to use Ticketmaster for their ticket sales.

Live Nation shares were up 6.5% premarket Tuesday to a record high of $131.78.