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Manchester United reports Q3 results, lifts 2024 revenue guidance

Published 07/10/2024, 08:04 AM
Updated 07/10/2024, 08:15 AM
© Reuters Manchester United (MANU) reports Q3 results, lifts 2024 revenue guidance

Manchester United (NYSE:MANU) raised its guidance for the full fiscal year 2024 after reporting its third-quarter earnings results on Wednesday.

The club’s shares were trading slightly lower in premarket trading.

For the full year, the club now expects revenue of GBP 660 million, up from the previous forecast range of GBP 635 million to GBP 665 million.

The adjusted EBITDA forecast has also been increased to GBP 140 million, compared to the previous range of GBP 125 million to GBP 150 million.

For the third quarter, Manchester United reported an adjusted loss per share of GBP 24.47 and an adjusted EBITDA of GBP 13.7 million.

Broadcasting revenue for the quarter was GBP 37.5 million, contributing to total revenue of GBP 136.7 million, marking a year-over-year drop of 19.6%.

The club reported a pre-tax loss of £83.569 million, a significant increase compared to the pre-tax loss of £5.679 million a year ago.

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