Madison Square Garden Entertainment Q2 Loss Narrows

(RTTNews) - Madison Square Garden Entertainment Corp. (MSGE), on Friday, reported lower loss for the second quarter. However, revenues decreased by 17 percent. The company also issued its revenue outlook for the full year.

For the quarter, Madison Square reported a loss that narrowed to $24.48 million or $0.47 loss per share from $71.40 million or $1.38 loss per share last year.

On average, five analysts polled by Thomson Reuters expected the company to report a loss of $0.59 per share for the quarter. Analysts' estimates typically exclude one-time items.

Revenues, however, decreased to $147.93 million from $178.34 million in the previous year. The Street estimate was $140.04 million for the quarter.

Looking forward to fiscal 2024, the company currently expects revenues in the range of $900 million to $930 million.

On Thursday, shares of MSGE closed at $30.65, down 0.58% on the New York Stock Exchange.