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Stock impact report

Vegas Sphere reports revenue decline despite hosting UFC 306, Eagles residency [Yahoo! Finance Canada]

Sphere Entertainment Co. Class A (SPHR) 
During an earnings call Tuesday, Sphere Entertainment Co. revealed that segment revenue slipped to $127.1 million in the quarter ending on Sept. 30. The two previous quarters garnered around $151.2 million and $170.4 million in revenue, respectively. Event revenue was at around $40.9 million, down from the prior quarter's $58.4 million. However, CEO James Dolan said they have no shortage of events and are "struggling with how to squeeze everybody in through the fall." Through advertising and suite license fees charged using its 580,000 square-foot exterior, the company generated $8.5 million, a decline from $15.9 million. Dolan said the venue faced a "structural issue" with advertising that the company is working on and is making progress. "That's just part of starting something new. I wish the day we lit it up that we know exactly how to run itand exactly how to sell it and exactly how to program it," Dolan told investors. "But that's just not the case." The venue celebrated Show less Read more
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