Sphere Entertainment posted Q1 2025 revenue of $280.6M, down 13% year-over-year, with an operating loss of $78.6M and adjusted operating income of $36.0M. Net loss was $82.0M, or $2.27 per share, driven by decreased revenues in both Sphere and MSG Networks segments. Event-related revenues rose significantly due to more concerts and a large corporate event, partially offsetting declines in other areas.
Total revenue fell 13% to $280.6M, with declines in both Sphere and MSG Networks segments.
Adjusted operating income dropped 42% to $36.0M.
Event-related revenues rose $25.6M on more concerts and a major corporate event.
Net loss widened to $82.0M from $47.2M a year earlier.
Management remains confident in growth opportunities for Sphere, focusing on strategic priorities and leveraging increased event activity.
Visualization of income flow from segment revenue to net income
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