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Sphere Entertainment Q3 revenue beats estimates on advertising and sponsorships

By Reuters News


Overview

  • Immersive experiences firm's Q3 revenue rose 4%, beating analyst expectations

  • Adjusted operating income for Q3 rose 8% year-over-year

  • Revenue growth driven by more Sphere performances and higher concert, advertising, and sponsorship revenues


Outlook

  • Company expects The Rocky Horror Picture Show to debut at Sphere by end of March 2027

  • Company highlights new and extended concert residencies at Sphere through 2027

  • Company says it is making progress on plans for a global network of Sphere venues


Result Drivers

  • MORE PERFORMANCES - Co said revenue growth was driven by an increase in the number of Sphere Experience performances and higher per-show revenue

  • CONCERTS - Higher event-related revenue attributed to more concert residency shows at Sphere in Las Vegas

  • ADVERTISING AND SPONSORSHIPS - Increase in Exosphere advertising, sponsorship and suite license fee revenues contributed to overall revenue growth


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

$274.30 mln

$268.38 mln (10 Analysts)

Q3 Net Loss

$176.04 mln

Q3 Adjusted Operating Income

$39.20 mln

Q3 Operating Expenses

$143.09 mln

Q3 Operating Income

-$240.60 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the leisure & recreation peer group is "buy"

  • Wall Street's median 12-month price target for Sphere Entertainment Co. is $159.00, about 46.1% above its November 4 closing price of $108.85


Reuters Recommended Reads

  • Nov 2 - Marriott lifts annual room revenue growth forecast on resilient travel demand

  • Nov 4 - Sports and entertainment firm TKO Group's Q3 revenue rises but misses estimates

  • Nov 2 - Fox Q1 revenue rises 22%, beats estimates


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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