Madison Square Garden beats Q1 revenue estimates on more concerts
MSGE•Madison Square Garden Entertainment’s Q1 revenue rose 37% year over year to $217.1 million, beating the $208.16 million estimate, while adjusted operating income reached $34.3 million. The company repurchased $25 million of shares and expects robust revenue and adjusted operating income growth in fiscal 2027.
1. Revenue and income rise
Madison Square Garden Entertainment reported Q1 revenue of $217.1 million, up 37% year over year and above the $208.16 million analyst estimate. Adjusted operating income rose to $34.3 million, also beating estimates. Net income was $8.91 million, and EPS was $0.19.
2. More events drive growth
More concerts at The Garden and higher revenue per concert drove growth. Increased live entertainment and sporting events, higher revenue per event, and greater food and beverage sales also contributed. The company repurchased $25 million of its shares during the quarter.
3. Fiscal 2027 outlook
The company expects healthy demand for live entertainment and robust growth in revenue and adjusted operating income in fiscal 2027.
