Manchester United Clocks 11% Revenue Growth In Q3; Boosts Outlook Ahead Of Potential Sale
Portfolio Pulse from Shivani Kumaresan
Manchester United (NYSE:MANU) reported Q3 FY23 sales growth of 11.3% YoY to $206.53 million, beating analyst consensus of $173.69 million. The company raised its FY23 revenue and adjusted EBITDA outlook. Speculation continues about potential buyers, including Apple Inc (NASDAQ:AAPL) and Qatari businessman Sheikh Jassim bin Hamad al-Thani.
June 27, 2023 | 12:33 pm
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POSITIVE IMPACT
Manchester United reported better-than-expected Q3 FY23 sales growth and raised its FY23 outlook. Potential buyers, including Apple and Qatari businessman Sheikh Jassim, may impact the stock price.
Manchester United's better-than-expected Q3 sales growth and raised FY23 outlook indicate a positive financial performance, which may attract investors and drive the stock price up. Additionally, the ongoing speculation about potential buyers, including Apple and Sheikh Jassim, adds to the stock's attractiveness.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Apple Inc (NASDAQ:AAPL) is rumored to be interested in buying Manchester United for about $7 billion, which may impact the company's stock price.
While Apple is rumored to be interested in buying Manchester United, it is just one of the potential buyers, and the impact on Apple's stock price may be limited due to the company's size and diversified business. However, if the acquisition goes through, it could have a more significant impact on the stock price.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50