Sphere Entertainment jumps on Q4 results beat

Sphere Entertainment

14/08/2024 13:08

** Shares of media firm Sphere Entertainment  SPHR.N  jump
15.82% to $47.21 premarket
    ** Stock set to open at more than four-month high if gains
hold
    ** SPHR reports Q4 revenue of $273.4 mln, beating estimates
of $271.3 mln - LSEG
    ** Co's revenue almost doubles in Q4, compared with $144.3
mln a year ago
    ** SPHR posts smaller-than-expected loss of $46.58 mln, vs
expectations of $79.8 mln loss - LSEG 
    ** During fiscal 2024, SPHR launched globe-shaped venue
named Sphere in Las Vegas
    ** Out of eight analysts tracking SPHR, six rate "hold" and
two rate "buy" or higher, with median PT of $45
    ** Stock has gained 20% YTD as of previous close 

 (Reporting by Pranav Kashyap in Bengaluru)
 ((Pranav.Kashyap@thomsonreuters.com; +919886482111;))