Madison Square Garden Entertainment’s earnings for the quarter ended June 30 showed the beginning of a long climb out of the pandemic shutdown
). Shares of MSGE rose 8.7% to $67.87 on Monday morning, after hitting a 52-week low of $60.26 last Thursday.
Full-year results show a broader effect of the pandemic: for the 12 months ended June 30, total revenues fell 76% from the fiscal year prior, from $762.9 million to $180.4 million. Despite the last quarter’s improvement, the entertainment division’s revenues dropped 86% from $585.2 million to $82.3 million over the same period.
The entertainment division -- which houses such venues as Madison Square Garden and Radio City Music Hall -- improved its revenues to $31.1 million from $8.6 million, showing the concert business improved but was far from the $174 million it grossed in the fiscal fourth quarter of 2019 before COVID-19. MSGE’s Tao Hospitality Group, a collection of restaurants and entertainment venues, had quarterly revenues of $69.7 million, up from $1.3 million in the prior year period.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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