Madison Square Garden Q2 Profit Tops View

(RTTNews) - The Madison Square Garden Co. (MSG), Operator of the New York Knicks team, Friday reported second-quarter net income of $61.2 million or $0.78 per share, up from $60.5 million or $0.77 per share in the comparable quarter last year. On average, analysts polled by Thomson-Reuters estimated earnings of $0.75 per share. Analysts' estimates typically exclude one-time items.

The company's operating income rose to $138.34 million from $96.55 million a year earlier.

Revenues grew 7% to $542.53 million from $509.38 million. This was primarily due to an increase in revenues in the Company's MSG Entertainment and MSG Sports segments, as well as the MSG Media segment, excluding the impact of prior year quarter Fuse revenues as the company completed its sale of the network on July 1, 2014. Analysts projected revenues to be $523.20 million.