Ticketmaster

(TMCS)

swung to a third-quarter profit, helped by a 40% increase in online ticket sales.

The company earned $4.6 million, or 3 cents a share, compared with a loss of $49.4 million, or 35 cents a share, in the same quarter last year, and according to general accounting principles.

Before a change in accounting principles, the company earned 16 cents a share, compared with 4 cents a share a year ago. Analysts were expecting the company to earn 13 cents a share.

Revenue was $203.2 million, compared with $157.5 million. Revenue from ticketing operations increased 21.1%, from $133.9 million to $162.1 million.

Shares of Los Angeles-based Ticketmaster closed at $22.36 Wednesday on the

Nasdaq

.