NEW YORK (AP) — NEW YORK (AP) — The Madison Square Garden Co. (MSGS) on Wednesday reported a fiscal second-quarter loss of $40.6 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the New York-based company said it had a loss of $1.68.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of $1.46 per share.
The sports team and entertainment company posted revenue of $28.8 million in the period, which topped Street forecasts. Three analysts surveyed by Zacks expected $27.3 million.
Madison Square Garden shares have decreased almost 8% since the beginning of the year.
Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MSGS at https://www.zacks.com/ap/MSGS
This story has been corrected to show that the company’s stock did not decline 42% in the past 12 months. The company began trading April 20 after it split from Madison Square Garden Entertainment Corp.