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Sphere Entertainment SPHR Q1 2025 earnings

Reported May 8, 2025 · Before market open

Revenue$227.9MMiss by $67.7M
EPS-$2.27Beat by $0.21
Revenue estimate$295.6M
EPS estimate-$2.48

Next report

Nov 3, 2026 (in a month)
Revenue estimate$284.3M
EPS estimate-$1.54

Financials

Q1 2025

Income statement

See full
Revenue$280.6M-12.7%
Operating income-$78.6M-94.6%
Net income-$82.0M-73.5%
EPS (diluted)-$2.27-70.7%

Balance sheet

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Cash & equivalents$478.2M-31.1%
Total debt$1.5B-5.1%
Total equity$2.1B-12.3%
Total assets$4.4B-8.7%

Cash flow

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Operating cash flow$6.3M-93.7%
CapEx$17.5M-10.1%
Free cash flow-$11.1M-114%

Valuation & ratios

Valuation

as of 03/31/25
See full
Market cap$1.17B-32.4%
Enterprise value$2.16B-16.4%
P/S1.2×-0.8×

Profitability

See full
Operating margin-30.3%-5.3pp
Net margin-27%-70.3pp
FCF margin-38.2%—

Returns & leverage

See full
Return on equity-11.6%-28.7pp
Debt / equity0.7×+0.1×
Current ratio0.5×-0.1×

Segments

By product

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Media networks revenues$123.0M-18.5%
Ticketing and venue license fee revenues$107.3M-3.0%
Sponsorship, signage, Exosphere advertising, and suite license revenues$24.2M-40.3%
Food, beverage, and merchandise revenues$19.9M+7.7%

By segment

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MSG Networks$123.0M-18.5%

FAQ

When did Sphere Entertainment report Q1 2025 earnings?
Sphere Entertainment (SPHR) reported Q1 2025 earnings on May 8, 2025 before market open.
What were Sphere Entertainment's Q1 2025 revenue and EPS?
Sphere Entertainment reported revenue of $227.9M and eps of $-2.27 for Q1 2025.
Did Sphere Entertainment beat estimates in Q1 2025?
Revenue missed the consensus estimate of $295.6M by $67.7M. EPS beat the consensus estimate of $-2.48 by $0.21.
How did Sphere Entertainment's Q1 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 29.1% from $321.3M a year earlier and eps declined 70.7% from $-1.33.
Where can I find Sphere Entertainment's Q1 2025 SEC filings?
You can read the 8-K earnings release (0001795250-25-000027) and the 10-Q periodic report (0001795250-25-000029) directly on SEC EDGAR. The filing index links above go to sec.gov.