Shares of Live Nation Entertainment (LYV) tumbled 5.15% in pre-market trading on Wednesday, following the release of disappointing third-quarter financial results. The live entertainment giant's earnings report, which fell short of analyst expectations, has shaken investor confidence and led to a significant sell-off.

Live Nation reported third-quarter revenue of $8.50 billion, representing an 11% year-over-year increase but missing analyst estimates of $8.61 billion. More notably, the company's earnings per share came in at $0.73, significantly below the street view of $1.45. This substantial earnings miss appears to be the primary driver behind the stock's pre-market plunge.

Despite the underwhelming financial performance, Live Nation highlighted some positive aspects in its report. The company achieved a record stadium show count, up 60% year-over-year, and reported strong fan demand. Looking ahead, Live Nation expressed optimism for 2026, anticipating double-digit growth in its large venue show pipeline and ticket sales. However, these forward-looking statements seem insufficient to offset investor concerns about the company's current performance in the competitive live entertainment industry.