NYSE$MANU
Manchester United · Q2 2026 earnings
Q2 2026 earnings · · Investor relations
Briefing
Manchester United reported Q2 fiscal 2026 revenue of £190.3M and profit for the period of £4.2M.
Total revenue for the three months ended December 31, 2025 was £190.3 million (-4.2% YoY) with commercial, broadcasting, and matchday components all discussed. Profit for the period was £4.2 million; adjusted EBITDA was £76.0 million. The club reiterated FY2026 revenue guidance of £640M–£660M.
- Q2 revenue £190.3M.
- Adjusted EBITDA £76.0M.
- FY2026 revenue guidance £640M–£660M.
- Commercial revenue £78.5M in the quarter.
Headline financials
Revenue & EPS history
Manchester United · Revenue · Quarterly
£190M
Revenue by segment
Manchester United · £190M total across 3 segments · Q3 2026
- Commercial£82.4M+10.3%43.5%
- Broadcasting£64.9M+57.1%34.2%
- Matchday£42.2M-5.2%22.3%
Forward guidance
Manchester United reiterated FY2026 revenue of £640M–£660M and adjusted EBITDA of £180M–£200M while staying compliant with Premier League profit rules.
Tailwinds
- FY2026 revenue guidance £640M–£660M.
- Off-pitch transformation improving costs and profitability.
- Adjusted EBITDA £76.0M in Q2.
Headwinds
- Matchday and commercial revenue down YoY in Q2.
- On-pitch performance affects broadcasting leverage.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 6 quarterly earnings reports · overlaid with Q2 2026
+1.3%
Avg return
Earnings day
+3.5%
Avg return
5 days after
+4.2%
Avg return
30 days after
54%
7 / 13 earnings
Positive
+18.8%
Q3 2025
Best reaction
-6.4%
Q4 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | +11.9% | +10.7% | — | |
| Q2 2026 | -2.1% | -0.1% | -7.8% | |
| Q4 2025 | -6.4% | -7.6% | +9.2% | |
| Q3 2025 | +18.8% | +22.3% | +26.7% | |
| Q1 2025 | -3.0% | +0.0% | -3.2% | |
| Q4 2024 | +1.1% | +0.6% | +4.6% | |
| Q2 2024 | -1.2% | -1.4% | -4.4% | |
| Q4 2014 | +1.4% | — | — | |
| Q3 2014 | -4.3% | — | — | |
| Q1 2014 | +2.9% | — | — | |
| Q4 2013 | +0.3% | — | — | |
| Q4 2012 | +1.1% | — | — | |
| Q1 2013 | -3.8% | — | — | |
| Q2 2011 | — | — | — | |
| Q1 2011 | — | — | — | |
| Q4 2011 | — | — | — |
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