Stock Track | Sphere Entertainment Shares Plunge on Disappointing Q1 Results

Stock Track11-12

Shares of Sphere Entertainment Co. (NYSE: SPHR) tumbled nearly 6% in pre-market trading on Monday after the company reported disappointing fiscal first-quarter 2025 results that missed Wall Street estimates on both earnings and revenue.

For the quarter ended September 30, 2024, Sphere Entertainment reported an adjusted operating loss of $10.2 million, or $2.95 per share, wider than analysts' consensus estimate of a $1.96 per share loss. Total revenue came in at $227.9 million, missing expectations of $247.51 million.

The underwhelming performance was driven by weakness across the company's two main business segments. The Sphere segment, which includes the company's immersive entertainment venue in Las Vegas, reported a $125.1 million operating loss despite revenue growth of $119.3 million year-over-year to $127.1 million. While the venue opening boosted revenue, Sphere is still struggling with profitability as expenses related to operations and experiences ramped up.

Meanwhile, Sphere's MSG Networks segment saw revenue decline 9% to $100.8 million, primarily due to a 13% drop in total subscribers. Operating income for the segment fell 74% to $7.5 million as higher expenses compounded the impact of lower revenue.

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(NYSE: SPHR) tumbled nearly 6% in pre-market trading on Monday after the company reported disappointing fiscal first-quarter 2025 results that missed Wall Street ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SPHR","symbol_name":"SPHERE ENTERTAINMENT CO","start_time":0,"source_url":"","article_id":"1137826164","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1137826164","pubTimestamp":1731414984,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Sphere Entertainment Co.  tumbled nearly 6% in pre-market trading on Monday after the company reported disappointing fiscal first-quarter 2025 results that missed Wall Street estimates on both earnings and revenue.For the quarter ended September 30, 2024, Sphere Entertainment reported an adjusted operating loss of $10.2 million, or $2.95 per share, wider than analysts' consensus estimate of a $1.96 per share loss. 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