Live Nation Entertainment (LYV) Q2 FY2026 earnings: revenue $7.7 billion, up 9.4% on the year

Live Nation Entertainment, Inc. (LYV) reported revenue of $7.7 billion for Q2 FY2026, the quarter ended 30 June 2026, up 9.4% on the same quarter a year earlier. Net income was $294 million, up 21.0% on the year, and diluted earnings per share $1.05. The figures are the company's own, from the 10-Q it filed with the SEC on 30 July 2026.

Revenue

$7.7 billion

+9.4% on the year · +102.1% on the quarter

Q3 FY2024Q2 FY2026

Operating margin

6.8%

6.9% a year earlier

Q3 FY2024Q2 FY2026

Net income

$294 million

+21.0% on the year

Q3 FY2024Q2 FY2026

Diluted EPS

$1.05

+156.1% on the year

Q3 FY2024Q2 FY2026

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

What management said

Guidance figures: 1 raised, 1 lowered, 2 narrowed, 2 new, 10 kept.

Revenue up 9%, AOI up 2%: Revenue was $7.7 billion, up 9%, or 8% at constant currency. Operating income was $522 million, up 7%. AOI was $817 million, up 2%, or 0.2% at constant currency.
Six-month operating income down 75%: Six-month operating income was $151.4 million, against $601.4 million a year earlier, after a $450 million Governmental Investigations and Litigation accrual in the first quarter. Six-month AOI rose 4% to $1,188.0 million.
Concerts AOI down 14% on timing: Concerts revenue was $6.4 billion, up 8%. Concerts AOI was $310 million, down 14%, or 15% at constant currency, reflecting show timing, venue pre-opening costs and new international festivals.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Revenue	7,667	3,793	7,007	+102.1%	+9.4%
Selling, general and administrative	1,135	962	1,003	+18.0%	+13.1%
Operating income	522	-371	487		+7.2%
Operating margin	6.8%	-9.8%	6.9%
Interest expense	97.2	90.5	72.0	+7.4%	+35.0%
Pre-tax income	519	-412	420		+23.4%
Income tax	116	-32.1	118		-1.6%
Effective tax rate	22.3%	n/a	28.0%
Net income	294	-389	243		+21.0%
Net margin	3.8%	-10.3%	3.5%
Diluted EPS	$1.05	-$1.85	$0.41		+156.1%

$ million except per share.

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	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Operating cash flow	419	2,339	223	-82.1%	+87.6%
Capital expenditure	290	309	263	-6.3%	+9.9%
Free cash flow	130	2,030	-39.9	-93.6%
Free cash flow margin	1.7%	53.5%	-0.6%
Cash from investing	-459	-418	-275
Cash from financing	191	117	-325	+62.3%
Depreciation and amortisation	188	169	159	+11.3%	+18.5%
Share-based compensation	62.0	32.8	61.5	+89.3%	+0.8%
Diluted shares, weighted	244m	232m	234m	+5.0%	+4.1%
Shares outstanding at period end	236m	236m	234m	+0.0%	+0.5%

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	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Shareholders' equity	82.3	-139	360		-77.1%
Non-controlling interest	673	621	568	+8.4%	+18.6%
Redeemable equity	1,064	952	1,378	+11.8%	-22.8%
Debt	9,201	8,510	6,476	+8.1%	+42.1%
Operating lease liabilities	2,081	2,073	1,785	+0.4%	+16.6%
Other liabilities	15,079	14,051	12,584	+7.3%	+19.8%
Total liabilities and equity	28,181	26,068	23,150	+8.1%	+21.7%
Fixed assets	3,964	3,664	2,949	+8.2%	+34.4%
Goodwill	3,064	2,933	2,821	+4.4%	+8.6%
Intangible assets	1,206	1,071	1,092	+12.6%	+10.5%
Cash and equivalents	9,072	9,078	7,057	-0.1%	+28.6%
Receivables	2,885	1,965	2,465	+46.8%	+17.1%
Other assets	7,990	7,356	6,767	+8.6%	+18.1%
Total assets	28,181	26,068	23,150	+8.1%	+21.7%

Questions

What was Live Nation Entertainment's revenue in Q2 FY2026?

Live Nation Entertainment (LYV) reported revenue of $7.7 billion for Q2 FY2026, the quarter ended 30 June 2026, up 9.4% on the same quarter a year earlier.

How much did Live Nation Entertainment earn in Q2 FY2026?

Net income for Q2 FY2026 was $294 million, up 21.0% on the year, and diluted earnings per share $1.05.

When did Live Nation Entertainment report Q2 FY2026 results?

Live Nation Entertainment filed its 10-Q for the quarter ended 30 June 2026 with the SEC on 30 July 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 30 June 2026, filed 30 July 2026: the filing.