Skip to content
OpenCapital
Get started

Sphere Entertainment SPHR Q3 2025 earnings

Reported November 4, 2025 · Before market open

Revenue$262.5MMiss by $115.1M
EPS-$1.37Beat by $0.25
Revenue estimate$377.6M
EPS estimate-$1.62

Next report

Jul 30, 2026 (Tomorrow)
Revenue estimate$308.0M
EPS estimate-$1.44

Financials

Q3 2025

Income statement

See full
Revenue$262.5M+15.2%
Operating income-$129.7M-10.3%
Net income-$101.2M+3.9%
EPS (diluted)-$2.80+5.1%

Balance sheet

See full
Cash & equivalents$398.3M-28.0%
Total debt$1.0B-33.2%
Total equity$2.2B-6.9%
Total assets$4.1B-9.9%

Cash flow

See full
Operating cash flow$115.8M+240%
CapEx$5.0M-73.0%
Free cash flow$110.8M+612%

Valuation & ratios

Valuation

as of 09/30/25
See full
Market cap$2.24B+42.3%
Enterprise value$2.84B+12.8%
P/S2.2×+0.8×

Profitability

See full
Operating margin-28.1%-4.3pp
Net margin-6.2%-2.8pp
FCF margin0.8%—

Returns & leverage

See full
Return on equity-2.8%-1.3pp
Debt / equity0.5×-0.2×
Current ratio1×+0.4×

Segments

By product

See full
Ticketing and venue license fee revenues$124.7M+35.3%
Media networks revenues$88.4M-12.3%
Food, beverage, and merchandise revenues$25.0M+49.0%
Sponsorship, signage, Exosphere advertising, and suite license revenues$17.2M+29.7%

By segment

See full
Sphere$174.1M+37.0%
MSG Networks$88.4M-12.3%

Versus estimates

Revenue

Q1 2026$386.4MBeat by $73.0MQ4 2025$394.3MBeat by $22.3M
Q3 2025$262.5MMiss by $115.1M
Q2 2025$297.7MBeat by $40.7MQ1 2025$227.9MMiss by $67.7MQ4 2024$273.4MMiss by $30.0M

Diluted EPS

Q1 2026$0.01Beat by $0.32Q4 2025$1.23Beat by $1.35
Q3 2025-$1.37Beat by $0.25
Q2 2025-$2.71Miss by $1.14Q1 2025-$2.27Beat by $0.21Q4 2024-$3.49Miss by $1.34

Ask the moment Sphere Entertainment reports.

Connect your AI and ask the moment the filing drops. It reads the release, surfaces what management said, and gives you its own read.

Connect your AI
Harbor at dusk
Claude

Questions, answered.

When did Sphere Entertainment report Q3 2025 earnings?
Sphere Entertainment (SPHR) reported Q3 2025 earnings on November 4, 2025 before market open.
What were Sphere Entertainment's Q3 2025 revenue and EPS?
Sphere Entertainment reported revenue of $262.5M and eps of $-1.37 for Q3 2025.
Did Sphere Entertainment beat estimates in Q3 2025?
Revenue missed the consensus estimate of $377.6M by $115.1M. EPS beat the consensus estimate of $-1.62 by $0.25.
How did Sphere Entertainment's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 15.2% from $227.9M a year earlier and eps grew 53.6% from $-2.95.
Where can I find Sphere Entertainment's Q3 2025 SEC filings?
You can read the 8-K earnings release (0001628280-25-048533) and the 10-Q periodic report (0001628280-25-049008) directly on SEC EDGAR. The filing index links above go to sec.gov.