Manchester United Earnings Reports

Manchester United returned to operating profitability due to reduced expenses but recorded a net loss driven by foreign exchange losses on USD-denominated debt.

The club posted a smaller net loss in Q4 2025 with revenue rising 15% year-over-year, helped by strength in commercial partnerships and retail. Operating loss nearly halved, and adjusted EBITDA doubled.

Revenue increased across all segments due to strong matchday and European competition performance, while cost control measures helped drive a return to operating profit.

Manchester United's Q2 FY25 revenue fell 12.0% YoY to £198.7 million, primarily due to a 42.1% drop in broadcasting revenue. The club posted an operating profit of £3.1 million (-88.7% YoY) and a net loss of £27.7 million. However, commercial revenue grew 18.5% due to the Snapdragon sponsorship and e-commerce expansion.