Live Nation Entertainment (LYV) Q1 FY2026 earnings: revenue $3.8 billion, up 12.1% on the year

Live Nation Entertainment, Inc. (LYV) reported revenue of $3.8 billion for Q1 FY2026, the quarter ended 31 March 2026, up 12.1% on the same quarter a year earlier. Net income was -$389 million, and diluted earnings per share $-1.85. The figures are the company's own, from the 10-Q it filed with the SEC on 5 May 2026.

Revenue

$3.8 billion

+12.1% on the year · -39.9% on the quarter

Q2 FY2024Q1 FY2026

Operating margin

-9.8%

3.4% a year earlier

Q2 FY2024Q1 FY2026

Net income

-$389 million

Q2 FY2024Q1 FY2026

Diluted EPS

-$1.85

Q2 FY2024Q1 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 2 raised, 4 new, 11 kept.

Revenue up 12%, 9% constant currency: Revenue was $3.8 billion, up 12% as reported and 9% at constant currency, with Concerts, Ticketing and Sponsorship all growing.
AOI up 9% across segments: Adjusted operating income reached $371 million, up 9%, with each segment contributing. Corporate AOI costs were $47.9 million against $48.7 million a year earlier.
Primary GTV up 14%: Primary gross transaction value grew 14%, with concerts accounting for most of the growth.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Revenue	3,793	6,314	3,382	-39.9%	+12.1%
Selling, general and administrative	962	1,301	779	-26.1%	+23.4%
Operating income	-371	-143	115
Operating margin	-9.8%	-2.3%	3.4%
Interest expense	90.5	83.4	80.3	+8.6%	+12.7%
Pre-tax income	-412	-186	66.0
Income tax	-32.1	-49.4	19.7
Effective tax rate	n/a	n/a	29.9%
Net income	-389	-202	23.2
Net margin	-10.3%	-3.2%	0.7%
Diluted EPS	-$1.85	-$1.06	-$0.32

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Operating cash flow	2,339	-53.7	1,321		+77.0%
Capital expenditure	309	352	171	-12.2%	+80.9%
Free cash flow	2,030	-406	1,150		+76.4%
Free cash flow margin	53.5%	-6.4%	34.0%
Cash from investing	-418	-394	-217
Cash from financing	117	729	-173	-83.9%
Depreciation and amortisation	169	165	149	+2.7%	+13.3%
Share-based compensation	32.8	28.3	24.6	+15.8%	+33.5%
Diluted shares, weighted	232m	232m	231m	+0.2%	+0.5%
Shares outstanding at period end	236m	235m	234m	+0.1%	+0.6%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Shareholders' equity	-139	271	106
Non-controlling interest	621	623	692	-0.3%	-10.2%
Redeemable equity	952	924	1,312	+2.9%	-27.4%
Debt	8,510	8,200	6,408	+3.8%	+32.8%
Operating lease liabilities	2,073	2,037	1,734	+1.8%	+19.5%
Other liabilities	14,051	10,857	11,575	+29.4%	+21.4%
Total liabilities and equity	26,068	22,913	21,827	+13.8%	+19.4%
Fixed assets	3,664	3,416	2,688	+7.3%	+36.3%
Goodwill	2,933	2,889	2,703	+1.5%	+8.5%
Intangible assets	1,071	1,078	1,039	-0.7%	+3.1%
Cash and equivalents	9,078	7,094	7,159	+28.0%	+26.8%
Receivables	1,965	2,009	1,851	-2.2%	+6.2%
Inventory	n/a	56.6	n/a
Other assets	7,356	6,369	6,388	+15.5%	+15.2%
Total assets	26,068	22,913	21,827	+13.8%	+19.4%

Questions

What was Live Nation Entertainment's revenue in Q1 FY2026?

Live Nation Entertainment (LYV) reported revenue of $3.8 billion for Q1 FY2026, the quarter ended 31 March 2026, up 12.1% on the same quarter a year earlier.

How much did Live Nation Entertainment earn in Q1 FY2026?

Net loss for Q1 FY2026 was $389 million, and the diluted loss per share $1.85.

When did Live Nation Entertainment report Q1 FY2026 results?

Live Nation Entertainment filed its 10-Q for the quarter ended 31 March 2026 with the SEC on 5 May 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023 †	Q2 FY2023 †	Q3 FY2023 †	Q4 FY2023 *	Q1 FY2024 †	Q2 FY2024	Q3 FY2024	Q4 FY2024 * †	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	2,703	1,803	4,434	6,154	4,291	3,127	5,631	8,152	5,839	3,800	6,023	7,651	5,682	3,382	7,007	8,499	6,314	3,793	7,667	10,105
SG&A	656	570	672	806	908	690	869	974	1,024	982	926	1,005	1,183	779	1,003	1,008	1,301	962	1,135	1,161
Operating income	-125	27.1	319	506	-120	131	382	654	-81.5	-41.4	466	640	-239	115	487	792	-143	-371	522	892
Operating margin	-5%	2%	7%	8%	-3%	4%	7%	8%	-1%	-1%	8%	8%	-4%	3%	7%	9%	-2%	-10%	7%	9%
Interest expense	72.3	66.8	68.4	70.5	72.8	89.2	82.0	86.2	92.8	80.7	80.0	88.0	77.4	80.3	72.0	80.3	83.4	90.5	97.2	102
Pre-tax income	-180	-37.3	260	439	-157	56.4	368	632	-143	-1.7	456	586	-301	66.0	420	730	-186	-412	519	825
Tax rate	n/a	n/a	12%	10%	n/a	42%	14%	8%	n/a	n/a	18%	12%	n/a	30%	28%	35%	n/a	n/a	22%	31%
Net income	-195	-50.2	188	361	-203	-3.2	294	483	-211	-54.5	298	452	201	23.2	243	431	-202	-389	294	448
Net margin	-7%	-3%	4%	6%	-5%	-0%	5%	6%	-4%	-1%	5%	6%	4%	1%	3%	5%	-3%	-10%	4%	4%
Diluted EPS	-$0.94	-$0.39	$0.66	$1.39	-$1.02	-$0.25	$1.02	$1.78	-$1.18	-$0.53	$1.03	$1.66	$0.56	-$0.32	$0.41	$0.73	-$1.06	-$1.85	$1.05	$1.69
Operating cash flow	756	1,198	349	-619	904	1,156	491	-884	608	989	412	-721	1,045	1,321	223	-95.7	-53.7	2,339	419	-658
Capital expenditure	48.8	62.5	67.8	75.7	141	117	85.6	102	134	134	200	158	155	171	263	276	352	309	290	203
Free cash flow	707	1,136	281	-695	762	1,039	405	-987	475	855	212	-879	890	1,150	-39.9	-371	-406	2,030	130	-861
Shares outstanding	225m	228m	230m	231m	231m	230m	230m	230m	233m	231m	232m	232m	234m	234m	234m	235m	235m	236m	236m	236m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 31 March 2026, filed 5 May 2026: the filing.