Live Nation said revenue for Q1 2024 rose 21% year over year to $3.8 billion, adjusted operating income (AOI) rose 15% to $367 million, and the company posted an operating loss of $37 million.

1. 01

   Live Nation said revenue for Q1 2024 rose 21% year over year to $3.8 billion, adjusted operating income (AOI) rose 15% to $367 million, and the company posted an operating loss of $37 million.

2. 02

   The company said its Q1 adjusted operating income-to-operating loss reconciliation included Astroworld estimated loss contingencies of $185.9 million. It also said net income fell by $97 million, net of mark-to-market gains on investments, due to the Astroworld litigation accrual.

3. 03

   The company said Concerts revenue for Q1 rose 26% to $2.9 billion with adjusted operating income of $3 million, Ticketing revenue rose 7% to $723 million with adjusted operating income of $284 million, and Sponsorship revenue rose 24% to $211 million with adjusted operating income of $130 million.

4. 04

   Live Nation said it had $6.5 billion in cash and cash equivalents as of the end of Q1 2024, of which $1.4 billion was free cash. It also said it expects 2024 capital expenditures of $600 million.

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Original filing

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