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MSG Scores 3Q EPS Blowout

While the New York Knicks and Rangers disappointed their fans this week, the teams' parent company Madison Square Garden (NYSE:MSG) blew away expectations on Friday with a 24% leap in fiscal third-quarter profits.Shares of the media and sports entertainment company scored a 2% rally on the earnings beat.MSG said it earned $38.4 million, or 49 cents a share, last quarter, compared with a profit of $31.1 million, or 40 cents a share, a year earlier. Analysts had been calling for EPS of just 32 cents.Revenue gained 3% to $412.4 million, exceeding the Street's view of $406 million. Operating margins expanded to 15.5% from 13.3%.The company's results were powered by growth on the television front as MSG Media generated an 11% jump in revenue and a 53% surge in operating income. The division, which features MSG Networks, enjoyed higher affiliation rates and a $1.8 million increase in ad sales.Sports revenue dipped 4% to $208.1 million, while operating income tumbled 68% to $8.1 million.MSG s...

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  1. Time Warner Cable, MSG in Battle Over Renewal Fees

    Collins Stewart Media Equity Research Managing Director Thomas Eagan on Time Warner Cable not carrying MSG in New York because of a dispute over renewal fees.

  2. MSG Shares Advance To 12-month High

    Shares of Madison Square Garden Inc. maintained their recent momentum Monday, up nearly 4% on the session and hitting a 52-week high of $33.18 amid investor exciteme...

  3. MSG Shares Down Modestly In Time Warner Cable Spat

    Amid a financial dispute that has blacked out sports network MSG from Time Warner Cable Inc. systems in the new year, MSG shares were down 2.3% in Tuesday trading, w...

  4. Madison Square Garden Shares Up 11% On NBA News

    Shares of Madison Square Garden Inc. were up 11% Monday on news that there will be a 66-game NBA season starting Dec. 25 after a lockout by the league's owners ended...

  5. Madison Square Garden Shares Up 4% On Results

    CHICAGO -- Madison Square Garden Co. shares were up nearly 4% Friday after the company posted better-than-expected third-quarter results on increased revenue at its ...

  6. MSG Scores in 1Q Despite Lower Sales at The Garden

    Madison Square Garden (NYSE:MSG) revealed on Friday a stronger-than-expected increase in first-quarter profit despite a sharp drop in revenues stemming from the temp...

  7. NBA Lockout Won't End Well Unless it Ends Quickly

    While millionaires and billionaires negotiate how to split up billions, the “common” folks are out of work. Sounds like what is happening on Wall Street ? More like ...

  8. MSG Stock a Loser Despite 40% Climb in 4Q Net

    Madison Square Garden (NYSE:MSG) scored a stronger-than-expected 40% leap in fiscal fourth-quarter profits, but shares of the parent of the New York Knicks and Range...

  9. MSG CEO: This Is a Project NYC Needs

    Madison Square Garden CEO Hank Ratner on the massive overhaul of the iconic arena.

  10. Cablevision to Spin Off MSG

    Former MSG President Bob Gutkowski and MarketWatch Media Columnist Jon Friedman on why Cablevision is spinning off Madison Square Garden into a standalone company.

  1. MSG's 1Q Tops Views Despite Higher Tax Bill

    Hit by higher taxes, New York Knicks parent Madison Square Garden (NYSE:MSG) disclosed a 3.2% decline in fiscal first-quarter earnings on Friday but still managed to...

  2. Madison Square Garden 4th-Quarter Profit Soars on Sports Revenue

    Madison Square Garden Co.'s (MSG) fiscal fourth-quarter earnings soared as its sport division hosted more games, in part due to the New York Knicks and Rangers makin...

  3. Time Warner Cable and MSG Network Resolve Dispute

    FBN’s Robert Gray on Time Warner Cable and MSG Network resolving their dispute over subscription fees.

  4. Linsanity Validates Cablevision's MSG Spinoff Strategy

    All the talk about "Linsanity’s" positive impact on MSG’s (NYSE:MSG) stock overlooks one key point: There didn’t used to be such a thing as MSG stock until two years...

  5. Greek Hopes Drive Dow Near 13000

    FOX Business: The Power to ProsperEdging closer to the 13000 mark, the Dow finished the week with solid gains on Friday as Wall Street bets Greece will finally recei...

  6. Dispute Between Time Warner Cable, MSG Network Resolved -NYT

    DOW JONES NEWSWIRESThe impasse between Time Warner Cable Inc. (TWC) and the Madison Square Garden Network Co. (MSG) has been resolved, the New York Times reported Fr...

  7. MSG , Time Warner Reach Truce as Linsanity Explodes

    Just two weeks after Linsanity descended upon New York City, Time Warner Cable (NYSE:TWC) and New York Knicks parent MSG (NYSE:MSG) have resolved their dispute. Afte...

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