Sphere Entertainment Q4 revenue $394M, up 28%; adjusted operating income $128M; expands to National Harbor

Sphere Entertainment Co.

2025-FY EPS reported $0.74 revenue$1,220,045,000

Q4 revenue $394.3M (+28% YoY); operating income $28.9M vs loss of $142.9M prior year.
Full year revenue $1.22B (+8%); adjusted operating income $261.8M (+138% YoY).
Sphere segment Q4 revenue $274.2M (+62%); adjusted operating income $89.4M vs $0.8M loss.
New Sphere venue planned at National Harbor, MD (smaller-scale design); second US location.
The Wizard of Oz at Sphere surpassed 2M tickets sold; partnerships with Anheuser-Busch, Delta Air Lines.

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