Despite its many fumbles when it comes to the literal ticket-buying process, Live Nation is reporting big numbers for Q2 2023, revealing in its earnings call last week that it generated $5.63 billion in revenue during the second quarter. Thanks, Taylor Swift!

Ticket talk: That $5.63 billion is a 27% year-over-year increase and marks Live Nation's second-best number ever after Q3 2022, which was nearly $6.2 billion. The company reported an operating income of $386.4 million, up 20% year-over-year, with adjusted operating income up 23% to $590 million, and operating cash flow increasing 41% to $491 million. Concert revenue saw an increase of nearly $4.6 billion, a 29% year-over-year increase, and ticketing saw a 23% year-over-year increase to $709.3 million. Live Nation shows sold 117 million tickets year-to-date, an increase of 20% year-over-year, with double-digit attendance growth expected next quarter.

What they're saying: "Live music is bigger than ever, with global demand driving the industry to record levels," said Live Nation president and CEO Michael Rapino. "There’s a more diverse pipeline of artists breaking from all corners of the world, and at the same time tours are going to more markets – particularly in Latin America and Asia. This was our strongest second quarter ever, with 2023 on pace to be a record year, and early indicators for 2024 giving us confidence in continued growth."

After the company's Q2 numbers were released, its stock notched a 52-week high of $101.74 per share. Later, it fell as much as 16% on Friday after news that the Justice Department could file an antitrust suit against Live Nation and Ticketmaster.