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NEW YORK - Madison Square Garden Entertainment Corp. (NYSE:MSGE) reported better-than-expected fiscal third quarter revenue on Tuesday, as strong consumer and corporate demand drove event attendance across its venues.
The company’s shares rose 2.68% in premarket trading following the results.
The entertainment company posted revenue of $242.5 million for the quarter ended March 31, 2025, surpassing analyst estimates of $231.87 million. Revenue increased 6% compared to $228.3 million in the same quarter last year.
However, adjusted earnings per share came in at $0.17, missing the consensus forecast of $0.43.
MSG Entertainment saw a 10% increase in revenues from entertainment offerings to $160.2 million, driven by higher revenues shared with MSG Sports, increased Christmas Spectacular production revenues, and higher venue-related sponsorship and suite license fees.
"Our third quarter results reflect continued strong consumer and corporate demand as well as a wide variety of live events across our venues," said Executive Chairman and CEO James L. Dolan.
The company reported operating income of $27.3 million, up 63% YoY. Adjusted operating income rose 50% to $57.9 million compared to the prior year quarter.
MSG Entertainment repurchased $15 million worth of its Class A shares in March, bringing total buybacks in fiscal 2025 to $40 million year-to-date.
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