Sphere Entertainment Stock Gets Analyst Downgrade for ‘Potentially Underwhelming Profitability Outlook’
Benchmark downgraded the stock over concerns about the company’s “scalability, high production costs, and a potentially underwhelming profitability outlook,” wrote Benchmark analyst Mike Hickey in an investor note. “A weakening consumer environment may negatively impact their Las Vegas non-gaming entertainment business, while MSG Networks faces significant *** maturity challenges.” The MSG Networks division of Sphere Entertainment Co. operates regional sports networks and the MSG+ streaming platform. Sphere Entertainment posted a $201 million net loss on revenue of $1.03 billion in the fiscal year ended June 30.
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Gemischt • Re: Sphere Studios bringt neue 18K Kamera auf den Markt, um immersive Inhalte für MSG Sphere zu erstellen
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