Live Nation Entertainment Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	25,201	23,156	22,726	16,681	6,268
Revenue Growth (YoY)	8.83%	1.89%	36.24%	166.11%	236.80%
Cost of Revenue	18,763	17,381	17,291	12,348	4,356
Gross Profit	6,438	5,775	5,436	4,334	1,912
Selling, General & Admin	4,475	4,433	3,808	3,137	1,913
Operating Expenses	5,114	4,983	4,324	3,587	2,329
Operating Income	1,324	791.77	1,111	746.65	-416.8
Interest Expense	-316.03	-325.97	-350.24	-278.48	-282.44
Interest & Investment Income	150.45	156.25	237.82	77.62	6.63
Earnings From Equity Investments	3.21	-16.68	-5.46	10.57	2.52
Currency Exchange Gain (Loss)	-61.1	-	-	-	-
Other Non Operating Income (Expenses)	3.57	4.67	-35.27	-41.22	-27.39
EBT Excluding Unusual Items	1,104	610.05	958	515.15	-717.49
Merger & Restructuring Charges	-	-	-	-	-9
Gain (Loss) on Sale of Investments	-	99.2	-	-	107.28
Gain (Loss) on Sale of Assets	18.53	11.02	13.93	32.08	1.21
Other Unusual Items	-92.24	19.16	-58.66	-56.7	6.73
Pretax Income	1,031	739.43	913.27	490.52	-611.27
Income Tax Expense	339.79	-391.7	209.48	115.94	-2.48
Earnings From Continuing Operations	690.74	1,131	703.8	374.58	-608.79
Minority Interest in Earnings	-194.77	-234.84	-146.91	-108.14	-42.12
Net Income	495.97	896.29	556.89	266.44	-650.9
Preferred Dividends & Other Adjustments	550.8	258.08	247.44	146.77	19.77
Net Income to Common	-54.83	638.21	309.46	119.67	-670.68
Net Income Growth	-44.66%	60.94%	109.01%	-	-
Shares Outstanding (Basic)	232	230	229	225	217
Shares Outstanding (Diluted)	232	236	231	232	217
Shares Change (YoY)	-1.91%	2.33%	-0.25%	6.61%	2.32%
EPS (Basic)	-0.24	2.77	1.35	0.53	-3.09
EPS (Diluted)	-0.24	2.74	1.34	0.52	-3.09
EPS Growth	-	104.41%	157.69%	-	-
Free Cash Flow	333.61	1,079	924.37	1,488	1,628
Free Cash Flow Per Share	1.44	4.56	4.00	6.42	7.50
Gross Margin	25.55%	24.94%	23.92%	25.98%	30.51%
Operating Margin	5.25%	3.42%	4.89%	4.48%	-6.65%
Profit Margin	-0.22%	2.76%	1.36%	0.72%	-10.70%
Free Cash Flow Margin	1.32%	4.66%	4.07%	8.92%	25.97%
EBITDA	1,963	1,342	1,628	1,197	-0.52
EBITDA Margin	7.79%	5.79%	7.16%	7.17%	-0.01%
D&A For EBITDA	638.87	549.92	516.8	449.98	416.28
EBIT	1,324	791.77	1,111	746.65	-416.8
EBIT Margin	5.25%	3.42%	4.89%	4.48%	-6.65%
Effective Tax Rate	32.97%	-	22.94%	23.64%	-
Advertising Expenses	59.8	54.6	47.7	32	18.1

Source: S&P Global Market Intelligence. Standard template. Financial Sources.