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Concert company Live Nation Inc. says its net profit in the second quarter shrank 88 percent to $1.2 million, or two cents a share.
The results, however, beat Wall Street analysts' expectation of a loss.
Revenue rose 18 percent to $1.16 billion in the quarter to June, up from $986 million a year ago.
Analysts, on average, expected a loss of 20 cents per share, on revenue up 1 percent to $1.05 billion, according to Thomson Financial.
The Los Angeles-based company said Thursday that the number of concerts, ticket sales and spending per fan rose during the quarter, despite the weakened economy.
© 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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