Sphere Entertainment Co. — Third Quarter 2026 Earnings Summary

Sphere Entertainment Co. reported third-quarter 2026 revenues of $274.3 million, representing a 4% increase from the prior year, driven primarily by growth in its Sphere segment. The company posted an operating loss of $240.6 million, which widened due to a $177.6 million non-cash goodwill impairment charge at MSG Networks, though adjusted operating income rose 8% to $39.2 million. The Sphere segment achieved $198.9 million in revenue, fueled by strong ticket sales for The Wizard of Oz and new concert residencies including Metallica. Conversely, MSG Networks revenues declined 15% to $75.4 million as distribution subscriber counts fell by approximately 15.5%.