MSG Sports Q2 2025 Earnings Report

MSG Sports reported an increase in revenue but a decrease in operating income and adjusted operating income for Q2 2025.

Key Takeaways

Madison Square Garden Sports Corp. reported a 9% increase in revenue for the fiscal second quarter of 2025, driven by higher ticket sales, suite revenues, and sponsorship deals. However, operating income decreased by 54% and adjusted operating income decreased by 45% due to increased operating expenses, including team personnel compensation and league revenue sharing expenses.

Revenues increased by 9% compared to the prior year period, reaching $357.8 million.

Operating income decreased by 54% to $13.3 million.

Adjusted operating income decreased by 45% to $20.2 million.

The New York Knicks and New York Rangers played a combined of three more games at Madison Square Garden Arena compared to the prior year quarter.