NEW YORK (AP) — NEW YORK (AP) — Sphere Entertainment Co. (SPHR) on Tuesday reported a loss of $1.6 million in its first quarter.
On a per-share basis, the New York-based company said it had a loss of 4 cents. Earnings, adjusted to extinguish debt, came to 1 cent per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 31 cents per share.
The company posted revenue of $386.4 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $367.5 million.
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