Madison Square Garden Entertainment Q2 FY26 operating loss widens 22% to $61.26 million; revenue rises 11% to $313.64 million

Unrestricted cash and cash equivalents totaled $550.97 million at June 30, 2026; total debt outstanding was $780.41 million.

Madison Square Garden Entertainment posted Q2 revenue up 11% to $313.64 million; net loss attributable to stockholders was $38.79 million.

Operating loss widened 22% to $61.26 million, while adjusted operating income fell 17% to $50.92 million.

Sphere revenue climbed 29% to $226.35 million, driven by higher per-show revenue at The Sphere Experience tied to The Wizard of Oz at Sphere.

MSG Networks revenue dropped 18% to $87.29 million as distribution revenue fell on a roughly 16.5% subscriber decline; advertising also slipped.