The Los Angeles-based company reported a net loss of $18.4 million, or 25 cents per share, in the quarter ending Dec. 31. That compares to a loss of $33.1 million in the same period a year earlier.

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Revenue for the quarter declined about 4 percent to $1 billion, largely because of the decline in lucrative tours compared to the same period a year earlier.

Analysts polled by Thomson Financial had expected a loss of 12 cents per share on revenue of about $1.1 billion in the latest period.

The company said operating income increased to $4.2 million from an operating loss of $14.7 million a year earlier.

During a conference call with Wall Street analysts, Live Nation Chief Executive Michael Rapino said the company made strides to improve margins in its core concert business.

"We're very proud of the results we're reporting today," Rapino said. "We delivered exactly to the dollar on the plan that we delivered to the board a year ago."

Revenue in the company's North American Music division fell 3.3 percent to $463.2 million from $479.1 million a year earlier due to fewer amphitheater events.

Sales from international concert business soared by 39.5 percent to $304.5 million from $218.2 million a year earlier due to an increase in events and attendance, the company said.

Rapino said tours by The Police and Van Halen should make for a concert business this year that could be "at worst case" comparable to that of 2007.

He added that the company hasn't received word on whether Madonna, which the company signed last year to a 10-year deal reportedly valued at $120 million, plans to tour this year.

Rapino also said he doesn't expect the slowing U.S. economy to have a major impact on concert attendance this year.

"We are very confident that the economic downturn will not be a huge headwind to our revenue this summer," he said.

Live Nation promotes and produces music shows, theatrical performances and other live events worldwide. It also manages or has a stake in more than 160 venues.

Rupino has been steering the company beyond its traditional concert promotion business, giving it access to revenue from artists services such as direct merchandising, concert DVD sales and exclusive ticket sales, among others. It launched an artist management division with the signing of Madonna and is preparing to roll out a ticketing business next year.

For the full-year 2007, Live Nation reported a net loss of $11.9 million, or 17 cents per share, versus a net loss of $31.4 million in 2006.

Revenue for the year increased to $4.2 billion from $3.7 billion in 2006.

Live Nation shares increased 13 cents, or about 1 percent, to $12.20. The stock slipped 30 cents in after-hours trading.