Live Nation Entertainment, Inc. LYV reported solid third-quarter 2021 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate and improved year over year. Following the results, the company’s shares have gained 5.5% in the after-hour trading session on Nov 3.The company has been benefiting from pent-up demand for live events and robust ticket sales for major festivals. Overall ticket sales for major festivals were up 10% compared to 2019. Improved pricing contributed to the results as well. Earnings & RevenuesIn third-quarter 2021, the company reported adjusted earnings per share of 19 cents, which compared favorably with the Zacks Consensus Estimate of a loss of 11 cents. In the prior-year quarter, the company had reported an adjusted loss per share of $2.45.The company’s revenues of $2,698.5 million surpassed the Zacks Consensus Estimate of $2,121 million. In the prior year quarter, the company had reported revenues of $184 million.Live Nation Entertainment, Inc. Price, Consensus and EPS Surprise Live Nation Entertainment, Inc. price-consensus-eps-surprise-chart | Live Nation Entertainment, Inc. QuoteSegmental DiscussionConcerts: The segment’s revenues totaled $2,151.6 million, up from the prior-year quarter’s figure of $154.8 million. Adjusted operating income was $59.6 million against a loss of $173.4 million in the year-ago quarter. Total estimated events increased to 5,563, up from the prior-year quarter’s 360 events.Ticketing: The segment’s revenues amounted to $374.2 million, against the prior-year quarter figure of ($19.8) million. Adjusted operating income increased to $171.8 million, versus a loss of $141.9 million in the prior-year quarter. Total estimated ticket sold rose to 83,094,000.Sponsorship & Advertising: The segment’s revenues were $174.4 million, up from the prior-year quarter’s $47.9 million. Adjusted operating income rose to $111.2 million from $22.9 million in the prior-year quarter.Balance SheetCash and cash equivalents as of Sep 30, 2021, totaled $4,628.9 million compared with $2,537.8 million as on Dec 31, 2020. Goodwill in the third quarter was $2,109.7 million compared with $2,129.2 million at 2020-end. Total long-term debt increased to $5,686.9 million, compared with $4,855.1 million as on Dec 31, 2020.Zacks Rank & Key PicksLive Nation currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the Zacks Consumer Discretionary sector include Golden Entertainment, Inc. GDEN, Camping World Holdings, Inc. CWH and RCI Hospitality Holdings, Inc. RICK. Golden Entertainment sports a Zacks rank #1 (Strong Buy), while Camping World and RCI Hospitality carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Golden Entertainment’s 2021 earnings are expected to surge 232.1%.Camping World has a trailing four-quarter earnings surprise of 70.9%, on average.RCI Hospitality has a three-five-year EPS growth rate of 12%. Zacks’ Top Picks to Cash in on Artificial Intelligence This world-changing technology is projected to generate $100S of billions by 2025. From self-driving cars to consumer data analysis, people are relying on machines more than we ever have before. Now is the time to capitalize on the 4th Industrial Revolution. Zacks’ urgent special report reveals 6 AI picks investors need to know about today.See 6 Artificial Intelligence Stocks With Extreme Upside Potential>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Camping World (CWH): Free Stock Analysis Report Live Nation Entertainment, Inc. (LYV): Free Stock Analysis Report RCI Hospitality Holdings, Inc. (RICK): Free Stock Analysis Report Golden Entertainment, Inc. (GDEN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research