NYSE$SPHR
Sphere Entertainment Co · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
MSG Entertainment posted strong Q2 FY2023 results with double-digit revenue growth and significant operating income gains.
MSG Entertainment reported Q2 FY2023 revenue of $642.2 million, up 24% year-over-year, driven by strong performances in its Entertainment and Tao Group Hospitality segments. Operating income more than doubled, and adjusted operating income rose 63%, reflecting robust holiday season events and increased sponsorships.
- Revenue grew 24% year-over-year to $642.2 million.
- Operating income increased 109% to $74.0 million.
- Adjusted operating income rose 63% to $124.1 million.
- Entertainment segment revenue jumped 44%, driven by the Christmas Spectacular and higher event-related revenues.
Headline financials
Revenue & EPS history
Sphere Entertainment Co · Revenue · Quarterly
$642M
Revenue by segment
Sphere Entertainment Co · $515M total across 2 segments · Q2 2023
- Sphere$357M+44.0%69.2%
- MSG Networks$159M-0.7%30.8%
Forward guidance
The company anticipates completing the spin-off of its live entertainment business by March 2023 and expects MSG Sphere in Las Vegas to open in September 2023, positioning it for long-term growth.
Tailwinds
- Spin-off of live entertainment business expected to close by March 2023.
- Opening of MSG Sphere in Las Vegas set for September 2023.
- Continued strong demand for live events.
- Positive momentum in sports bookings and sponsorships.
- Expansion of Tao Group Hospitality's global footprint.
Headwinds
- Decline in MSG Networks revenue due to lower subscribers.
- Higher operating expenses in Entertainment and Tao segments.
- Increased professional fees related to spin-off costs.
- Higher employee compensation costs.
- Ongoing restructuring charges from cost reduction programs.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
+1.5%
Avg return
Earnings day
+2.6%
Avg return
5 days after
+2.7%
Avg return
30 days after
46%
12 / 26 earnings
Positive
+22.1%
Q4 2025
Best reaction
-15.1%
Q3 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | +22.1% | +21.0% | +11.5% | |
| Q3 2026 | +4.7% | +16.2% | +24.8% | |
| Q1 2026 | +4.7% | +16.2% | +24.8% | |
| Q1 2025 | +9.2% | +26.1% | +26.5% | |
| Q2 2026 | -2.0% | -18.8% | -23.3% | |
| Q4 2024 | +0.7% | +21.5% | +3.6% | |
| Q3 2024 | +0.9% | -8.4% | -11.0% | |
| Q2 2024 | -0.3% | +13.8% | +35.9% | |
| Q1 2024 | +2.2% | +2.9% | -2.2% | |
| Q4 2023 | +4.0% | -7.9% | -1.1% | |
| Q3 2023 | -15.1% | -25.9% | -11.3% | |
| Q2 2023 | +8.3% | +13.8% | +6.6% | |
| Q1 2023 | -2.2% | -4.0% | -9.3% | |
| Q4 2022 | -7.1% | -3.3% | -12.3% | |
| Q2 2022 | -7.1% | -3.3% | -12.3% | |
| Q3 2022 | -11.3% | -11.9% | -5.0% | |
| Q1 2022 | -8.5% | -9.8% | -17.3% | |
| Q4 2021 | +17.9% | +26.7% | +21.7% | |
| Q2 2021 | +17.9% | +26.7% | +21.7% | |
| Q3 2021 | +5.2% | -3.2% | +4.2% | |
| Q1 2021 | -1.2% | -4.3% | +0.1% | |
| Q1 2020 | -1.2% | -4.3% | +0.1% | |
| Q2 2020 | -0.3% | +4.8% | -8.8% | |
| Q4 2020 | -0.3% | -8.3% | +6.1% | |
| Q4 2019 | -1.6% | -3.9% | -2.2% | |
| Q3 2020 | -1.6% | -3.9% | -2.2% | |
| Q3 2019 | — | — | — |
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