Live Nation Entertainment Inc. reported another record quarter, driven by strong global fan demand across all segments. Revenue for the third quarter of 2025 reached $8.5 billion, marking an 11% increase compared to the same period last year. Operating income rose 24% to $793 million. International markets played a significant role, with total fee-bearing gross transaction value (GTV) up 7% and primary fee-bearing GTV up 8%, led by a 16% increase at Live Nation concerts. Sponsorship revenue grew 13% to $443 million, while adjusted operating income from sponsorships climbed 14% to $313 million, achieving a margin of 71%. Live Nation also reported that its Ticketmaster Deferred Revenue grew 30% to $231 million, mostly from international markets. The company expects full-year margins and non-controlling interest expense as a percentage of AOI to remain in line with last year, with tax expense projected at 15-20% of AOI.