MSG beats 2Q net income and revenue expectations

MarketsAssociated Press

The Madison Square Garden Co. (MSG) on Friday reported fiscal second-quarter earnings of $61.2 million.

The New York-based company said it had profit of 78 cents per share.

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The results beat Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 73 cents per share.

The media company and sports team owner posted revenue of $542.5 million in the period, also surpassing Street forecasts. Analysts expected $529.8 million, according to Zacks.

MSG shares have risen 1.5 percent since the beginning of the year. The stock has risen 33 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MSG at http://www.zacks.com/ap/MSG

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Keywords: MSG, Earnings Report