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Mar 31, 2023
MSG Sports Q3 2023 Earnings Report
MSG Sports reported solid third quarter results driven by robust demand for the Knicks and Rangers.
Key Takeaways
Madison Square Garden Sports Corp. reported a 13% increase in revenue compared to the prior year period, driven by higher pre/regular season ticket-related revenues, suite revenues, local media rights fees, sponsorship and signage revenues, and food, beverage and merchandise sales. Operating income increased by 33% due to the increase in revenues and a decrease in selling, general and administrative expenses.
Revenues increased by 13% compared to the prior year period.
Operating income increased by 33% compared to the prior year period.
Adjusted operating income increased by 20% compared to the prior year period.
The Knicks and Rangers played a combined 40 regular season home games, compared to 38 in the prior year period.