Sphere Entertainment Q1: operating loss $69.8M as Sphere opens; MSG Networks revenue down 10%

Sphere Entertainment Co.

2024-Q1 EPS reported $1.89 revenue$118,007,000

Total revenues $118.0M, down $5.1M YoY; operating loss $69.8M vs loss $51.1M in prior-year quarter.
Sphere segment generated $7.8M revenue in first partial quarter; adjusted operating loss $83.1M.
MSG Networks revenues fell 10% to $110.2M; adjusted operating income $25.2M, down 24%.
Sphere in Las Vegas opened Sept 29 with sold-out U2 run; 11 additional shows added through Feb 2024.
MSG Networks launched MSG+ streaming service and renewed multi-year rights with New Jersey Devils.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Sphere Entertainment Co. reported fiscal first quarter ended September 30, 2023 results: revenue $118.0 million.

Period: fiscal first quarter ended September 30, 2023
Revenue: $118.0 million
Result: reported results

Exact text from the filing

Jersey Devils and will continue to distribute a full schedule of Devils games across MSG Networks’ platforms. For the fiscal 2024 first quarter, the Company reported revenues of $118.0 million, a decrease of $5.1 million, as compared to the prior year quarter. In addition, the Company reported an operating loss of $69.8 million, an increase of $18.7 million, and an

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Source: SEC EDGAR

accession 0001795250-23-000020

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