Company expects construction of Sphere Abu Dhabi to be completed by end of 2029.
Sphere Entertainment says it is in talks for additional venues in multiple global markets.
Company expects to open The Rocky Horror Picture Show at Sphere in 2027.
Key financial details and analyst coverage
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$313.60 mln
$300.04 mln (11 Analysts)
Q2 Loss Per Share
$1.07
Q2 Net Loss
$38.33 mln
Q2 Adjusted Operating Income
$50.90 mln
Q2 Operating Expenses
$151.06 mln
Q2 Operating Income
-$61.30 mln
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell".
The average consensus recommendation for the leisure & recreation peer group is "buy".
Wall Street's median 12-month price target for Sphere Entertainment Co is $175.00, about 24.8% above its July 29 closing price of $140.17.
Result drivers behind the revenue increase
- Higher per-show revenue and more performances for at Sphere drove segment revenue growth.
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