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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.