AP NEWS

The Madison Square Garden Co.: Fiscal 2Q Earnings Snapshot

February 7, 2020 GMT

NEW YORK (AP) _ The Madison Square Garden Co. (MSG) on Friday reported fiscal second-quarter net income of $94.1 million, after reporting a loss in the same period a year earlier.

The New York-based company said it had net income of $3.93 per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.41 per share.

The sports team and entertainment company posted revenue of $628.8 million in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $639.5 million.

The Madison Square Garden Co. shares have risen slightly more than 1% since the beginning of the year. The stock has climbed nearly 5% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MSG at https://www.zacks.com/ap/MSG