Madison Square Garden Posts Wider Q3 Loss, As Revenue Increases

The Madison Square Garden Co. said on Friday it had a loss of $60.76 million, or $2.47 per share in its fiscal third quarter, wider than last year's $11.47 million loss, or 46 cents per share. The FactSet consensus was for a loss of 35 cents per share. MSG's revenue for the quarter rose to $336.33 million, compared with $300.86 million in the same period last year, thanks to improved revenue for its entertainment and sports businesses. Revenue was above the FactSet consensus of $326.00. Madison Square Garden Co. completed its split from MSG Networks Inc. on Sept. 30 last year. Shares were inactive in premarket trade, but are up 0.4% in the year so far, just above the S&P 500 Index, up 0.3%.