Fewer Knicks and Rangers Games - Madison Square Garden Sports Revenue and Bottomline Hit in Q4
Portfolio Pulse from Anusuya Lahiri
Madison Square Garden Sports Corp (NYSE:MSGS) reported a Q4 FY23 revenue decline of 28% YoY to $126.9 million, beating consensus estimates. The decrease was primarily due to fewer Knicks and Rangers games. The company reported an EPS loss of $(0.39), missing consensus estimates. MSGS shares are trading lower by 8.74%.
August 17, 2023 | 3:11 pm
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NEGATIVE IMPACT
Madison Square Garden Sports Corp reported lower than expected earnings and a decline in revenue, leading to a drop in its stock price.
The company reported a significant decline in revenue and a larger than expected loss, primarily due to fewer games. This has negatively impacted investor sentiment, leading to a drop in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100