NEW YORK (AP) – NEW YORK (AP) – The Madison Sq. Backyard Co. (MSGS) reported a fiscal lack of $ 40.6 million within the second quarter on Wednesday, after reporting positive aspects in the identical interval final yr. .
On a per share foundation, the New York-based firm mentioned it had a lack of $ 1.68.
The outcomes didn’t meet Wall Road expectations. The typical estimate of three analysts surveyed by Zacks Funding Analysis was a lack of $ 1.46 per share.
The sports activities workforce and leisure firm posted income of $ 28.eight million within the interval, which beat Road’s forecasts. Three analysts surveyed by Zacks anticipated $ 27.three million.
Madison Sq. Backyard shares are down practically eight% for the reason that starting of the yr.
This story has been corrected to point out that the corporate’s inventory didn’t decline 42% within the final 12 months. The corporate went public on April 20 after parting methods with Madison Sq. Backyard Leisure Corp.
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