Sphere Entertainment Co. (SPHR) revealed a decline in their third-quarter losses compared to the same period in the previous year. However, the results did not meet the expectations of market analysts.
The bottom line of the company stands at a loss of $47.240 million equivalent to $1.33 per share. The previous year's third quarter demonstrated a greater loss of $56.847 million or $1.64 per share.
Market analysts, with data gathered by Thomson Reuters, predicted that the company's earnings would stand at a loss of $0.19 per share. These predictions commonly discount special factors.
However, the company demonstrated a significant rise in its quarterly revenue of 98.3%. The figure increased to a whopping $321.330 million compared to the previous year's figure of $162.062 million.
Here's a brief overview of Sphere Entertainment Co.'s earnings in accordance with the Generally Accepted Accounting Principles (GAAP):
In the third quarter, the company witnessed a loss of $47.240 million compared to the previous year's loss of $56.847 million. The earning per share (EPS) for the third quarter amounted to a loss of $1.33, slightly less than the previous year's loss of $1.64. The revenue for the third quarter stood at $321.330 million, nearly double from last year's figure of $162.062 million.
