Filing Flows › Live Nation Entertainment (LYV) › Q3 2025
Live Nation Entertainment (LYV) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 4, 2025
Live Nation Entertainment (LYV) reported revenue of $8.5B for the third quarter 2025 (Q3 2025), +11% from a year earlier and +21% from the quarter before. Operating margin was 9.3%, net earnings $431M (5.1% of revenue).
Live Nation Entertainment, Q3 2025: revenue $8.5B (+11% year over year), operating margin 9.3%, net earnings $431M, operating cash flow −$95.7M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $8.5B | +21% | +11% |
| Operating profit | $792M | +63% | +24% |
| Net earnings | $431M | +77% | -5% |
| Operating cash flow | −$95.7M | -143% | — |
What changed
Revenue was $8.5B in Q3 2025, up 11% year over year and up 21% from the previous quarter.
Operating profit was $0.79B, a 9.3% margin (up 1.0 points year over year). Of the extra revenue versus a year earlier, 18% reached operating profit, above the 8% margin then. Total costs grew 10% against revenue growth of 11%. The fastest-growing cost line was Other operating costs (+12%). Net earnings were $0.43B, down 5% year over year. The effective tax rate was 34.5%.
Operating cash flow was −$0.10B. Non-cash charges added back $0.17B of depreciation and amortization and $0.04B of share-based compensation. Working capital and other items used $0.78B. Capital expenditures of $0.28B exceeded it, leaving free cash flow of −$0.37B.
Questions
What was Live Nation Entertainment's revenue in the third quarter 2025?
Live Nation Entertainment (LYV) reported revenue of $8.5B for the third quarter 2025 (Q3 2025), +11% from a year earlier and +21% from the quarter before.
Was Live Nation Entertainment profitable in the third quarter 2025?
Operating profit was $792M (9.3% of revenue) and net earnings $431M.