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Sphere Entertainment SPHR Q2 2025 earnings

Reported August 11, 2025 · Before market open

Revenue$297.7MBeat by $40.7M
EPS-$2.71Miss by $1.14
Revenue estimate$257.0M
EPS estimate-$1.57

Next report

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

Financials

Q2 2025

Income statement

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Revenue$282.7M+3.4%
Operating income-$50.2M+29.7%
Net income$151.8M+426%
EPS (diluted)$3.39+359%

Balance sheet

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Cash & equivalents$368.9M-35.6%
Total debt$1.0B-32.9%
Total equity$2.3B-4.2%
Total assets$4.2B-12.3%

Cash flow

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Operating cash flow-$59.1M—
CapEx$14.7M—
Free cash flow-$73.7M+79.7%

Valuation & ratios

Valuation

as of 06/30/25
See full
Market cap$1.47B+18.3%
Enterprise value$2.12B-3.1%
P/S1.5×+0.3×

Profitability

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Operating margin-27.9%-3.9pp
Net margin-6.8%-2.7pp
FCF margin-8.8%—

Returns & leverage

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Return on equity-2.9%-1.1pp
Debt / equity0.4×-0.2×
Current ratio1.1×+0.5×

Segments

By product

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Ticketing and venue license fee revenues$124.6M+18.7%
Media networks revenues$107.1M-12.3%
Food, beverage, and merchandise revenues$27.9M+11.2%
Sponsorship, signage, Exosphere advertising, and suite license revenues$22.6M+11.1%

By segment

See full
Sphere$175.6M+16.1%
MSG Networks$107.1M-12.3%

FAQ

When did Sphere Entertainment report Q2 2025 earnings?
Sphere Entertainment (SPHR) reported Q2 2025 earnings on August 11, 2025 before market open.
What were Sphere Entertainment's Q2 2025 revenue and EPS?
Sphere Entertainment reported revenue of $297.7M and eps of $-2.71 for Q2 2025.
Did Sphere Entertainment beat estimates in Q2 2025?
Revenue beat the consensus estimate of $257.0M by $40.7M. EPS missed the consensus estimate of $-1.57 by $1.14.
How did Sphere Entertainment's Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 5.2% from $314.2M a year earlier and eps declined 35.5% from $-2.00.
Where can I find Sphere Entertainment's Q2 2025 SEC filings?
You can read the 8-K earnings release (0001795250-25-000033) and the 10-Q periodic report (0001628280-25-039390) directly on SEC EDGAR. The filing index links above go to sec.gov.