Madison Square Garden Entertainment (NYSE:MSGE) stock gained after it reported its fiscal first-quarter 2026 results. Through the trading session, the stock gave up its gains.
- MSGE is showing positive momentum. Get the latest updates here
The quarterly revenue rose by 14% year-on-year (Y/Y) to $158.26 million, topping the analyst consensus estimate of $156.80 million.
Earnings loss per share of 46 cents beat the analyst consensus loss estimate of 63 cents.
Also Read: Madison Square Garden Takes Hit From Concert Slowdown, Stock Falls
Revenues from entertainment offerings increased 14% Y/Y to $131.3 million. It reflected an increase in the number of concerts at the company's theaters and at The Garden.
According to the company, it included a new record for the number of concerts in any quarter at the Madison Square Garden Arena.
After the end of the quarter, the New York Knicks ("Knicks") and New York Rangers ("Rangers") began their 2025-26 regular seasons at The Garden.
Soon, the Christmas Spectacular production kicks off its 2025 holiday season at Radio City Music Hall with 215 planned performances as compared to 200 in fiscal 2025.
Food, beverage, and merchandise revenues rose 20% Y/Y to $22.8 million.
The company reported an adjusted operating income of $7.1 million, versus $1.9 million profit a year ago, primarily due to higher revenues.
As of September 30, cash and equivalents stood at $30.47 million.
Executive Chairman and CEO James L. Dolan noted strong momentum across its business, including for bookings and this year's Christmas Spectacular production. He expressed optimism in the company's ability to drive solid growth in both revenue and adjusted operating income in fiscal 2026.
MSGE Price Action: Madison Square Garden shares were up 0.05% at $44.56 at the time of publication on Thursday, according to Benzinga Pro data.
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