By Connor Hart

Shares of Sphere Entertainment gained after the company swung to a fourth-quarter profit and logged a jump in revenue, boosted by an increase in the number of shows it hosts and higher sponsorship and advertising fees.

The stock climbed 10%, to $104.50, in premarket trading Thursday. Through Wednesday's close, shares have doubled their value over the past year.

The operator of the spherical Las Vegas entertainment arena before the bell swung to a profit of $57.6 million from a loss of $126 million a year earlier. Quarterly earnings of $1.23 a share topped analyst expectations for a quarterly loss of 21 cents a share.

Revenue jumped 28% to $394.3 million, topping the $376.2 million that Wall Street had modeled.

The company attributed the increase largely to higher per-show revenue, largely stemming from "The Wizard of Oz at Sphere." The Las Vegas venue reported an increase in the number of overall performances during the recent quarter, and it is also notching higher sponsorship, advertising, and suit-license fees.

The revenue gains were slightly offset by higher operating expenses, up 27% at $92.6 million.

Chief Executive James Dolan said operations continue to validate the company's business model. "As we begin 2026, we remain focused on expanding Sphere's global footprint, including advancing our plans to bring Sphere to Abu Dhabi and National Harbor," he added.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

February 12, 2026 08:16 ET (13:16 GMT)

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