Madison Square Garden Q4: Topline Growth, Events And Merchandise Lead Charge
Portfolio Pulse from Anusuya Lahiri
Madison Square Garden Entertainment Corp (NYSE:MSGE) reported a 26% year-on-year revenue increase to $186.1 million for its fiscal fourth quarter, beating analyst estimates. Despite an adjusted EPS loss of $(0.53), the company saw significant growth in event-related and merchandise revenues. MSGE stock gained 9.60% premarket following the announcement.
August 16, 2024 | 12:38 pm
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Madison Square Garden Entertainment Corp (NYSE:MSGE) reported a 26% year-on-year revenue increase to $186.1 million for its fiscal fourth quarter, beating analyst estimates. Despite an adjusted EPS loss of $(0.53), the company saw significant growth in event-related and merchandise revenues. MSGE stock gained 9.60% premarket following the announcement.
The significant revenue growth and beating of analyst estimates are positive indicators for MSGE. The stock's premarket gain of 9.60% reflects investor optimism despite the EPS loss. The strong performance in event-related and merchandise revenues further supports a positive short-term outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100