Earnings Releases·Nov 5, 2026, 7:33 AM ET

Sphere Entertainment Co. — Third Quarter 2026 Earnings Summary

Total revenue increased 4% year-over-year to $274.3 million for the quarter and 18% to $974.3 million for the nine months, driven by a 14% and 36% year-over-year surge in Sphere segment revenues, which offset a 15% and 11% decline in MSG Networks revenues.
Adjusted operating income rose 8% to $39.2 million for the quarter and 50% to $200.1 million for the nine months, though the company reported a GAAP operating loss of $240.6 million for the quarter due to a $177.6 million non-cash goodwill impairment charge at MSG Networks.
Management reaffirmed confidence in the Sphere segment's growth trajectory, citing *The Wizard of Oz* exceeding $500 million in ticket sales and the addition of new residencies for Oprah Winfrey, John Mayer, and *The Rocky Horror Picture Show* through 2027.
Strategic expansion continues with announced plans for new Sphere venues in Abu Dhabi and National Harbor, while the company reduced long-term debt to $708.8 million and maintained $527.3 million in cash and restricted cash.