Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Live Nation Entertainment, (NYSE:LYV) were rocking out today, climbing as much as 10% today after a promising first-quarter earnings report.

So what: The concert producer said revenue jumped 22% in the quarter to $1.12 billion against estimates of just $963.8 million, as sales in its Concerts segment improved 29% due to an increase in arena events. All four of the company's segments saw revenue and adjusted operating income grow, and on the bottom line the company's net loss per share improved from $0.33 to $0.16, beating expectations of a $0.36 loss. 

Now what: Live Nation is a seasonal business, as the company tends to lose money during the winter months and make it up during the warmer part of year, so investors shouldn't be too concerned about the quarterly loss. CEO Michael Rapino said he was confident that revenue, adjusted operating income, and free cash flow would grow for the fourth consecutive year, and that Live Nation would see profitability improve in all its segments. With all major metrics, including tickets sold, moving in the right direction, Live Nation looks like it's headed for steady profit growth. Shares are trading near a 52-week high, but should move higher -- especially if the company can maintain its strong revenue growth.

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Jeremy Bowman has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.