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Mar 31, 2020
MSG Sports Q3 2020 Earnings Report
MSG Sports' fiscal third quarter results for 2020 reflected the impact of the COVID-19 pandemic and the spin-off of the entertainment businesses.
Key Takeaways
Madison Square Garden Sports Corp. reported a decrease in revenues, operating income, and adjusted operating income compared to the prior year quarter, primarily due to the suspension of NBA and NHL seasons and the temporary closure of venues due to the COVID-19 pandemic.
Completed the spin-off of the entertainment businesses into a new company called Madison Square Garden Entertainment Corp.
Fiscal third quarter results include the financial results of both the sports and entertainment businesses.
COVID-19 pandemic led to the suspension of the 2019-20 NBA and NHL seasons and the temporary closure of the Company’s venues.
Company generated fiscal 2020 third quarter revenues of $424.0 million, a decrease of 18%.
MSG Sports
MSG Sports
Forward Guidance
The company is confident that its business is well positioned to weather the current period of uncertainty.