Sphere Entertainment's third quarter 2026 revenue of $274M beat estimates as Sphere segment grew 14%

Sphere Entertainment reported third quarter 2026 revenue of $274.3 million, exceeding consensus estimates, driven by growth at the Las Vegas venue. However, the company posted a significantly wider-than-expected net loss of $4.84 per share, primarily due to a substantial non-cash goodwill impairment charge.

Key Highlights

• Sphere segment revenue increased 14% year-over-year to $198.9 million, fueled by 241 performances of The Wizard of Oz at Sphere and three additional concert residency dates.
• MSG Networks revenue declined 15% to $75.4 million, reflecting a persistent 15.5% decrease in total subscribers.
• The company recognized a $177.6 million non-cash goodwill impairment charge related to MSG Networks, causing total operating loss to widen by 47% to $240.6 million.
• Ticket sales for The Wizard of Oz at Sphere exceeded $500 million with over 4 million tickets sold since its August 2025 debut.