The Madison Square Garden Company (NYSE:MSG) Reports 1Q20 Loss Widen

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The Madison Square Garden Company (NYSE:MSG) unveiled first quarter financial results before market open today that below street view

The company reported loss of $ 79.98 million or $ 3.36 per share, compared with loss of $ 32.21 million or $ 1.36 per share, a year ago period., while Wall street analysts are predicting, loss of $ 2.00 per share

MSG recorded revenue that down 1.51 percent to $ 214.80 million from $ 218.10 million in the same quarter last year

Analysts estimates are from Thomson Reuters, exclude one time gain or loss.

The Executive Chairman and CEO James L. Dolan said, We expect fiscal 2020 to be a defining year as we move forward with our proposed spin-off and plans for MSG Sphere in Las Vegas. We firmly believe the separation of our sports and entertainment businesses would better highlight the unique value of our assets and brands, while enabling both new companies to pursue their own distinct business plan.

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