Earnings ·
Sphere Entertainment Co. reported financial results for the second quarter ended June 30, 2026
SPHRSphere Entertainment Co.
Sphere Entertainment Co. reported financial results for the second quarter ended June 30, 2026. Total revenues increased 11% to $313.6 million, driven by a 29% surge in Sphere segment revenue to $226.4 million as The Wizard of Oz at Sphere surpassed $400 million in ticket sales. However, the company reported an operating loss of $61.3 million and a net loss attributable to stockholders of $38.8 million, compared to prior year profits. Adjusted operating income declined 17% to $50.9 million due to higher selling, general, and administrative expenses linked to share-based compensation mark-to-market adjustments and litigation costs related to the MSG Networks merger. The Sphere segment announced that Yas Island in Abu Dhabi was selected for a new venue with construction expected by end of 2029, while plans for National Harbor continue. Additionally, a five-year partnership extension with Formula 1 Las Vegas Grand Prix through 2030 was announced. Sphere Entertainment Co. operates immersive experiential venues and regional sports networks.