Armstrong became furious, yelling and smashing a guitar, when the group was told to wrap up its performance of "Basket Case" at the IHeartRadio festival this weekend, E! News said.
The move was made to give Usher and Rihanna more time to perform, Gawker reported.
"One minute left. One minute [expletive] left. You're gonna give me one [expletive] minute? Look at that [expletive] sign right there -- one minute. Let me [expletive] tell you something, let me tell you something, I've been around since [expletive] 198-[expletive]-8. And you're gonna give me one [expletive] minute? You've gotta be [expletive] kidding me! You're [expletive] kidding me. What the [expletive!] I'm not [expletive] Justin Bieber, you mother[expletive]... I got one minute -- one minute left. Oh, now I got nothing left. Let me show you what one [expletive] minute [expletive] means. One minute. God [expletive] love you all. We'll be back," E! quoted Armstrong as saying.
A source at the show told E! Armstrong appeared to get over the incident rather quickly.
"Billy was backstage laughing and the fans loved it. A very rock 'n' roll moment," the insider said.