New York Knicks Broadcaster MSG Networks Posts Improved Q2 Earnings, Revenue

MSG Networks Inc. reported fiscal second-quarter net income of $43.3 million, or 58 cents per share, up from $33.9 million, or 45 cents during the same quarter a year ago. The company's per-share earnings were above FactSet's consensus of 53 cents. Revenue for the quarter hit $175.6 million, compared with $169.9 million in the year-earlier period. FactSet had forecast for revenue of $176.0 million. MSG Networks is the broadcasting home to New York-area sports teams, including the New York Knicks, the New York Rangers and coverage of the New York Giants. Shares of MSG Networks are up 36% in the last 12 months, while the S&P 500 Index is up 20%.