Fewer Concerts Deepends Madison Square Garden Entertainment's Q3 Loss, Eyes Event Growth in FY24

Madison Square Garden Entertainment Corp (NYSE: MSGE) reported a first-quarter FY24 revenue decline of 3% year-on-year to $142.2 million, beating the consensus of $117.2 million. EPS loss of $(0.73) beat the consensus loss of $(1.90).

Event-related revenues decreased $8.3 million as compared to the prior year period due to the lower number of concerts held at the company's venues.

The direct operating expenses of $101.7 ...

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