Live Nation Entertainment Inc., the concert promoter that merged with Ticketmaster this year, said Thursday that its third-quarter net income fell after a dismal summer concert season.

Net income fell to $51.4 million, or 30 cents per share, from $69.2 million, or 78 cents per share, a year earlier.

Revenue rose 2 percent to $1.84 billion from $1.79 billion a year ago. But if Ticketmaster's revenue were added to last year's total, combined revenue was down 14 percent from $2.14 billion.

The results showed the impact of heavy discounting in the summer months. The company said it was taking steps to cut costs next year.

Analysts surveyed by Thomson Reuters expected earnings of 36 cents per share on revenue of $1.93 billion.

Shares rose 13 cents, or 1.3 percent, to close at $9.81 before the earnings results were released.

Concert attendance fell 16 percent to 16.4 million in the third quarter through Sept. 30 and total tickets sold, including for other events, fell 4 percent at 32.3 million, the company said.