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MSG -2% as operating profits shrink broadly

Published 08/17/2017, 12:00 PM
Updated 08/17/2017, 12:00 PM
© Reuters.  MSG -2% as operating profits shrink broadly
  • Madison Square (NYSE:SQ) Garden (NASDAQ:MSG) is 2% lower today after holding positive ground an hour ago, following fiscal Q4 earnings amid operating losses in its entertainment unit and a decline in operating profit in sports.
  • Revenues rose 40% to $305.6M, which included $15M in nonrecurring NHL and NBA distributions as well as the impact of including operating results for TAO Group and Boston Calling Events.
  • Overall, MSG posted an operating loss of $92.5M and adjusted operating loss of $43.6M.
  • Revenue by segment: MSG Entertainment, $125.9M (up 50%); MSG Sports, $179.6M (up 35%).
  • Adjusted operating income by segment: MSG Entertainment, -$39.2M (vs. year-ago -$13.2M); MSG Sports, $14.5M (down 21% from year-ago $18.4M).
  • Press Release
  • Now read: Disney Disperses The Wolves


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