Live Nation Entertainment (LYV) shares surged over 7% Friday as demand for tickets to 澳洲幸运5官方开奖结果体彩网:Taylor Swift’s Eras Tour and other co💦ncert performances helped propel the compa🌞ny's sales to a record in the first quarter.

Q1 Sales Record

The concert promoter and owner of the Ticketmaster ticket outlet reported first-quarter revenue soared 21% year-over-year to $3.8 billion, an all-time high for the first three months of the year and better than estimates. However, its loss of 53 cents per share was greater than expected.

Concert ♚sales jumped 26% to $2.9 billion. Ticketmaster sales advanced 7% to $723.2 million, while sponsorship and advertising revenue climbed 24% to $211.3 million.

First-quarter show🥃 attendance gained 21% to 23 million and the company reported selling a record 77 million fee-bear🐭ing tickets.

'Demand Is Stronger Than Ever'

CEO Michael Rapino said the results indicate that “live events remain a priority for fans around the world.” He said "demand is stronger than ever," with more artists out on the road, and more venues being added for performances.

It hasn't hurt that one of those artists is Taylor Swift, with the 澳洲幸运5官方开奖结果体彩网:Eras Tour reportedly becoming the first in history to surpass $1 billion in 澳洲幸运5官方开奖结果体彩网:gross revenue.

Live Nation shares also likely got a lift from comments by CFO Joe Berchtold, who told analysts it’s unlikely 澳洲幸运5官方开奖结果体彩网:Live Nation and Ticketmaster will be broken up by regulators for violating 澳洲幸运5官方开奖结果体彩网:antitrust laws. 

Sꦉhares of Live Nation Entertainment෴ finished 7.2% higher at $94.66 Friday, bringing them into positive territory for the year.