Madison Square Garden's (MSG) Earnings Miss Estimates In Q4
Zacks Investment Research | Aug 20, 2019 10:04PM ET
The Madison Square (NYSE:SQ) Garden Company (NYSE:MSG) reported fourth-quarter fiscal 2019 results, wherein both earnings and revenues lagged the Zacks Consensus Estimate. With this, the bottom line fell short of the Zacks Consensus Estimate after registering a beat in the trailing three quarters. Meanwhile, the top line missed the consensus mark for the second straight quarter.
In the quarter under review, the company incurred a loss of $3.08 per share, wider than the Zacks Consensus Estimate of a loss of $2.34. In the prior-year quarter, Madison Square Garden had incurred a loss of $1.94 per share. Net revenues totaled $263.6 million, which missed the consensus mark of $276 million and declined 17% year over year.
Following the quarterly results, shares of the company decreased 8.9% on Aug 20. Moreover, in the past six months, the stock has decreased 10.1% compared with the Zacks Investment Research
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