Sphere Stock Drops After Earnings. Here's Why.

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 97%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

Without any clear idea about what its heralded new arena can earn, Sphere won't be able to generate a lot of investor excitement.

Many investors in Sphere Entertainment had hoped the company would offer financial guidance for its Las Vegas venue when it reported earnings Wednesday morning.

It also didn’t help that Sphere’s other business, MSG Networks, the regional cable network that broadcasts New York Knicks and Rangers games, saw a continued erosion in its profit amid cord-cutting. MSGN’s adjusted operating profit were down 24% in its fiscal first quarter to $25.2 million. Investors are eager to try to understand the economics of Sphere venue, which will rely on a mix of concert ticket sales, original productions, and advertising on its outside skin called the exosphere with over a million LED lights. They didn’t get much to chew on Wednesday.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Warner Bros. Stock Drops. Hollywood Strikes Hit Earnings.Entertainment firm Warner Bros. Discovery reported a third-quarter loss of 17 cents a share, wider than analysts' expectations.
Source: MarketWatch - 🏆 3. / 97 Read more »

Stock Market News Today: S&P 500 on Winning Streak; Disney Stock in FocusLive coverage of stocks, financial and economic news, including the S&P 500, Dow and Nasdaq Composite.
Source: WSJ - 🏆 98. / 63 Read more »

Stock Market News Today: S&P 500 on Winning Streak; Disney Stock in FocusLive coverage of stocks, financial and economic news, including the S&P 500, Dow and Nasdaq Composite.
Source: WSJ - 🏆 98. / 63 Read more »