Manchester United Stock Sinks 8% Despite Narrower Loss And Higher Revenue In Q4

(RTTNews) - Manchester United plc (MANU) fell 7.58 percent to $15.16 on Wednesday, down $1.24, after reporting a fourth-quarter net loss of 3.9 million pounds or 2.26 pence per share, compared with a loss of 36.3 million pounds or 21.44 pence a year earlier. Revenue rose 15.4 percent to 164.1 million pounds, supported by strong growth in commercial, broadcasting, and matchday revenue.

The stock opened at $15.65 and traded between $14.59 and $15.80, compared with a prior close of $16.41 on the New York Stock Exchange.

Trading volume hit 1.0 million shares, well above the average of 289,193. Manchester United now trades within a 52-week range of $12.05 to $19.65.