Sphere Entertainment Co reports results for the quarter ended in June - Earnings Summary

Sphere Entertainment

14/08/2024 14:31

* Sphere Entertainment Co  SPHR.N  reported a quarterly
adjusted
loss of $1.31​​ per share for the quarter ended in June, lower
than the same quarter last year, when the company reported EPS
of $15.24.  The mean expectation of six analysts for the quarter
was for a loss of $2.04 per share. Wall Street expected
results to range from $-3.61 to -45 cents per share.
    * Revenue rose 111.8% to $273.40 million from a year ago;
analysts
expected $271.32 million. 
    * Sphere Entertainment Co's reported EPS for the quarter was
a
loss of $1.31​.
    * The company reported a quarterly loss of $46.59 million.
    * Sphere Entertainment Co shares had risen by 16.3% this
quarter and gained 20.0% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 35.2%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 6
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the entertainment
production peer group is also "hold"

Wall Street's median 12-month price target for Sphere
Entertainment Co is $45.00 
This summary was machine generated from LSEG data August 14 at
01:31 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      -2.04          -1.31          Beat
 Mar. 31 2024      -0.19          -1.33          Missed
 Dec. 31 2023      -0.60          -4.91          Missed
 Sep. 30 2023      -2.06          1.98           Beat