Manchester United Q1 Loss Slightly Narrows; Trims FY24 Revenue Outlook

(RTTNews) - Manchester United (MANU) announced Wednesday a first-quarter net loss of 25.8 British pounds or 15.79 pence per basic share, narrower than 26.5 pounds or 16.26 pence per basic share in the prior-year quarter.

Excluding items, adjusted loss per basic share for the quarter was 5.27 pence, compared to 6.08 pence in the year-ago quarter.

Total revenues for the quarter grew 9.3 percent to 157.1 pounds from 143.7 pounds in the same quarter last year.

Broadcasting revenue grew 12.3 percent to 39.3 pounds, commercial revenue improved 3.4 percent to 90.4 pounds and matchday revenue increased 28.6 percent to 27.4 pounds from last year.

Looking ahead to fiscal 2024, the company is now forecasting revenue in a range of 635 million pounds to 665 million pounds, down from the prior guidance of 650 million pounds to 680 million pounds.