The company said revenue for the period ended March 31, 2024 increased 21% to $3.8 billion. Operating income fell by $179.3 million, from operating income of $142.8 million in the same period of the prior year to an operating loss of $36.5 million. The company cited Astroworld estimated loss contingencies in the Concerts segment.

10-QQuarterly reportFiled May 2, 2024Period of report Mar 31, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

The company said revenue for the period ended March 31, 2024 increased 21% to $3.8 billion. Operating income fell by $179.3 million, from operating income of $142.8 million in the same period of the prior year to an operating loss of $36.5 million. The company cited Astroworld estimated loss contingencies in the Concerts segment.
The company said Concerts segment revenue rose 26%, or $598 million, from $2.3 billion to $2.9 billion. It said the number of events rose from about 9,900 to about 11,200, and the number of fans rose from about 18.9 million to 22.9 million.
Ticketing revenue rose from $678 million to $723 million, and Ticketing AOI increased from $271 million to $284 million, the company said. Sponsorship & Advertising revenue increased from $170 million to $211 million, and its AOI rose from $96 million to $130 million.
The company said cash and cash equivalents were $6.5 billion as of March 31, 2024, including client cash of $1.4 billion. It said total net debt was $6.2 billion. During the quarter, it repaid $370 million of principal on its revolving credit facility, and financing activities used $478.4 million in cash.

Key figures

Quarter ended March 31, 2024

Revenue: $3.8B
Operating income: −$37M
Net income: −$47M
EPS: −$0.53
Operating cash flow: $989M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Q1 2024 Revenue and Operating Income

The company said revenue for the period ended March 31, 2024 increased 21% to $3.8 billion. Operating income fell by $179.3 million, from operating income of $142.8 million in the same period of the prior year to an operating loss of $36.5 million. The company cited Astroworld estimated loss contingencies in the Concerts segment.

Source · Based on the MD&A text of the filing

Concerts Revenue and Attendance

The company said Concerts segment revenue rose 26%, or $598 million, from $2.3 billion to $2.9 billion. It said the number of events rose from about 9,900 to about 11,200, and the number of fans rose from about 18.9 million to 22.9 million.

Source · Based on the MD&A text of the filing

Ticketing and Sponsorship & Advertising

Ticketing revenue rose from $678 million to $723 million, and Ticketing AOI increased from $271 million to $284 million, the company said. Sponsorship & Advertising revenue increased from $170 million to $211 million, and its AOI rose from $96 million to $130 million.

Source · Based on the MD&A text of the filing

Cash, Net Debt and Revolving Credit Facility Repayment

The company said cash and cash equivalents were $6.5 billion as of March 31, 2024, including client cash of $1.4 billion. It said total net debt was $6.2 billion. During the quarter, it repaid $370 million of principal on its revolving credit facility, and financing activities used $478.4 million in cash.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

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