Live Nation profits up

Live Nation saw revenues decline year-on-year in the summer quarter but profits were up. Revenue was down 2.5% to $1.79 billion for the quarter ending 30 Sep 2011, but net income was up 1.4% to $51.7 million. Perhaps more importantly, the company is having a profitable year - nine months into the current financial year profits stand at $16.5 million, them having made losses of $228.4 million in the previous financial year.