By Dean Seal
Sphere Entertainment narrowed its loss in the fiscal second quarter as revenue declined less than expected.
The operator of the spherical Las Vegas entertainment arena posted a loss of $126 million, or $3.49 a share, for the last three months of 2024. That's narrowed from a loss of $173.2 million, or $4.91 a share, in the same quarter a year earlier.
Analysts polled by FactSet had been expecting a loss of $2.13 a share.
Revenue slipped 1.9% to $308.3 million, topping analyst forecasts for $288.7 million, according to FactSet.
The Sphere business logged 1% higher revenue at $169 million. The company also owns MSG Network, a regional TV network and radio service, which recorded 5% lower revenue at $139.3 million.
Shares ticked up 1% to $44.05 in premarket trading.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
March 03, 2025 07:46 ET (12:46 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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