LYV Q4 2025 Earnings
Reported Feb 19, 2026 at 4:29 PM ET · SEC Source
Q4 25 EPS
$-0.24
BEAT +75.39%
Est. $-0.98
Q4 25 Revenue
$6.31B
BEAT +3.14%
Est. $6.12B
vs S&P Since Q4 25
-7.4%
TRAILING MARKET
LYV -2.9% vs S&P +4.5%
Full Year 2025 Results
FY 25 EPS
$2.74
BEAT +1,382.17%
Est. $-0.21
FY 25 Revenue
$25.20B
BEAT +0.77%
Est. $25.01B
Market Reaction
Did LYV Beat Earnings? Q4 2025 Results
Live Nation Entertainment closed out fiscal year 2025 with a stronger-than-expected fourth quarter, posting a Q4 loss of just $0.24 per share against a consensus estimate of $0.98, a 75.39% beat, while revenue climbed 11.1% year-over-year to $6.31 bi… Read more Live Nation Entertainment closed out fiscal year 2025 with a stronger-than-expected fourth quarter, posting a Q4 loss of just $0.24 per share against a consensus estimate of $0.98, a 75.39% beat, while revenue climbed 11.1% year-over-year to $6.31 billion, topping the $6.12 billion analyst forecast by 3.14%. The driving force behind the quarter's outperformance was the company's record full-year Concerts segment, where AOI surged 30% to $687.10 million as North American stadium fan counts more than doubled and international markets posted double-digit fan growth, collectively pushing full-year revenue to $25.20 billion. Despite the Q4 consolidated operating loss of $142.70 million, that figure marked a sharp improvement from the prior-year period's $239.40 million loss. Analysts maintaining a "Moderate Buy" consensus on the stock have a one-year average price target of $182.19. Looking ahead, the company projects a record 2026, with ticket sales already tracking toward roughly 67 million fans, over 80% of large venue shows booked, and double-digit operating income growth expected.
Key Takeaways
- • International fan attendance exceeded U.S. for the first time with double-digit fan growth across all major venue types
- • North American stadium fan count more than doubled year-over-year
- • Fan attendance increased 5% to 159 million driven by growth in stadiums and international markets
- • Concerts AOI up 30% with best-ever margin of 3.3%
- • Ticketing fee-bearing GTV for concerts grew 9% to $26 billion
- • Sponsorship spending at global venue portfolio grew mid-teens
- • Amphitheaters delivered 6% growth in onsite spending driven by double-digit increase in non-alcoholic beverages and liquor sales
- • 75% of all U.S. tickets available for under $100 with get-in prices holding flat to 2024
LYV Forward Guidance & Outlook
Live Nation expects 2026 to be a record-breaking year with double-digit operating income and AOI growth. Over 80% of 2026 large venue shows are booked, pacing up high-single digits globally and double-digits in North America. Ticket sales for 2026 concerts are up double-digits to approximately 67 million fans. Venue Nation expects to host over 70 million fans in 2026, up high-single to low-double digits. Ticketmaster primary fee-bearing GTV expected to grow mid to high-single digits. Sponsorship AOI growth expected to be heavily driven by venue portfolio expansion and global festivals, with over 70% of 2026 commitments booked and up double-digits. Capital expenditures expected to be $1.1 to $1.2 billion, with approximately $800-850 million for venue expansion and enhancement. Depreciation and amortization expected to grow 10%. Interest expense net of interest income expected to be $280 million. Tax expense expected to be 15-20% of AOI. AOI to free cash flow—adjusted conversion expected to be higher than 2025. Preopening costs for venues under development expected to be approximately $50 million.
LYV YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
LYV Revenue by Segment
With YoY comparisons, source: SEC Filings
“In 2025, the bond between artists and their global fan bases reached new heights, fueling another year of double-digit growth. As artists continue to unlock untapped markets and headline the world's most iconic stadiums, we've built momentum that carries us into a record-breaking 2026.”
— Michael Rapino, Q4 2025 Earnings Press Release
LYV Earnings Trends
LYV vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
LYV EPS Trend
Earnings per share: estimate vs actual
LYV Revenue Trend
Quarterly revenue: estimate vs actual
LYV Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 25 BEAT FY | $-0.98 | $-0.24 | +75.39% | $6.31B | +3.14% |
| FY Full Year | $-0.21 | $2.74 | +1,382.17% | $25.20B | +0.77% |
| Q3 25 MISS | $1.49 | $0.73 | -50.96% | $8.50B | -1.46% |
| Q2 25 MISS | $1.02 | $0.41 | -59.80% | $7.01B | +1.64% |
| Q1 25 MISS | $-0.03 | $-0.32 | -966.67% | $3.38B | -3.83% |