Sphere Entertainment Second Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

Sphere Entertainment (NYSE:SPHR) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$314.2m (up 97% from 2Q 2023).
• Net loss: US$173.2m (loss widened by 472% from 2Q 2023).
• US$4.91 loss per share (further deteriorated from US$0.87 loss in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Sphere Entertainment Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) missed analyst estimates significantly.

Looking ahead, revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Entertainment industry in the US.

Performance of the American Entertainment industry.

The company's shares are up 11% from a week ago.

Risk Analysis

You should always think about risks. Case in point, we've spotted 2 warning signs for Sphere Entertainment you should be aware of.

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