Madison Square Garden Slips To Loss In Q1

(RTTNews) - Madison Square Garden Sports Corp. (MSGS), a sports holding company, Friday announced net loss for the first quarter compared with profit in the previous year.

For the first quarter, net loss came in at $14.23 million compared with net income of $37.88 million in the previous year's quarter.

Loss per share for the quarter was $0.59, while it was earnings per share of $1.58 in the previous year.

Five Analysts, on average, had expected the company to report loss of $0.25 per share. Analysts' estimates typically exclude special items.

Interest income increased to $1.05 million from $477 million in the prior year.

Revenue decreased to $424.20 million from $429.95 million last year.

In the pre-market trading, Madison Square is 2.98% lesser at $ on the Nasdaq.