Sphere Entertainment Q2 revenue beats on sponsorship, suite license fees growth

Sphere Entertainment

30/07/2026 12:59

Overview
Immersive entertainment firm's Q2 revenue rose 11%, beating analyst expectations
Adjusted operating income for Q2 fell 17% year-over-year
Revenue growth driven by higher per-show revenue for The Wizard of Oz at Sphere

Outlook
Company expects construction of Sphere Abu Dhabi to be completed by end of 2029
Sphere Entertainment says it is in talks for additional venues in multiple global markets
Company expects to open The Rocky Horror Picture Show at Sphere in 2027

Result Drivers
WIZARD OF OZ REVENUE - Higher per-show revenue and more performances for The Wizard of Oz at Sphere drove segment revenue growth
ADVERTISING AND SPONSORSHIP - Increased Exosphere advertising, sponsorship, and suite license fees contributed to revenue growth
EVENT MIX - Fewer brand events reduced event-related revenue, partly offset by more concert residency shows with lower per-concert revenue

Company press release: ID:nBw8qyMsQa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$313.60 mln
$300.04 mln (11 Analysts)
Q2 Loss Per Share
 
$1.07
 
Q2 Net Loss
 
$38.33 mln
 
Q2 Adjusted Operating Income
 
$50.90 mln
 
Q2 Operating Expenses
 
$151.06 mln
 
Q2 Operating Income
 
-$61.30 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the leisure & recreation peer group is "buy"
Wall Street's median 12-month price target for Sphere Entertainment Co is $175.00, about 24.8% above its July 29 closing price of $140.17

Reuters Recommended Reads
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July 30 - UK's Informa beats H1 revenue estimates on demand for live B2B events
July 29 - MGM Resorts Q2 revenue beats estimates on higher casino gains

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)