Executive Change - Sphere Entertainment announced the unexpected departure of CFO David Byrnes, who will continue in his current role for an interim period to facilitate a smooth transition [1][2] - The company did not provide a reason for Byrnes' departure, simply stating that he "will be leaving the company" [1][3] Stock Performance - Sphere Entertainment shares fell 8% to $41.39 following the announcement of the CFO's departure [3] - Despite the recent decline, the company's shares are still up about 22% so far this year [3] Background Information - David Byrnes has been the CFO of Sphere Entertainment since December 2022 [1][2] - Prior to joining Sphere Entertainment, Byrnes was the CFO of Madison Square Garden Entertainment (MSGE), which spun off from Sphere Entertainment in April 2023 [2]

Group 1 - Sphere Entertainment Co. announced the departure of Mr. David F. Byrnes, the Executive Vice President, Chief Financial Officer, and Treasurer, who will remain in his role temporarily to ensure a smooth transition [1][2] - Mr. Byrnes has been with the company since December 2023 and previously held a similar position at Madison Square Garden Entertainment Corp., where he was involved in significant strategic transactions [2] - Key transactions during Mr. Byrnes' tenure include the spin-off of MSG Entertainment in April 2023, the sale of the majority interest in Tao Group Hospitality in May 2023, and two secondary stock offerings in June and September 2023 [2] Group 2 - Sphere Entertainment Co. is a leading live entertainment and media company, featuring innovative entertainment mediums powered by advanced technologies [3] - The first Sphere venue was launched in Las Vegas in September 2023, marking a significant milestone for the company [3] - The company also operates MSG Networks, which includes two regional sports and entertainment networks and a streaming product, MSG+, providing a variety of live sports content [3]

Shares of Sphere Entertainment Co (SPHR, Financial) surged 4.96% in mid-day trading on Oct 2. The stock reached an intraday high of $46.60, before settling at $46.02, up from its previous close of $43.84. This places SPHR 11.22% below its 52-week high of $51.83 and 70.30% above its 52-week low of $27.02. Trading volume was 747,758 shares, 95.1% of the average daily volume of 785,916. Wall Street Analysts Forecast Based on the one-year price targets offered by 6 analysts, the average target price for Sphere ...

Sphere Entertainment Co SPHR, the company behind the Las Vegas Sphere, has high production costs and scalability issues. Despite the company's penchant for novelty events, like last month's "Wizard of Oz" screening, the profitability outlook is "underwhelming," according to Benchmark analyst Mike Hickey. Hickey downgraded the rating for Sphere to Sell, while setting the price target to $40. The Sphere Entertainment Thesis: Creating content for Las Vegas Sphere is expensive. Plus, not all productions resonat ...

Core Insights - Sphere Entertainment Co. has experienced significant stock price appreciation, with shares rising as much as 25% this week and 46% year-to-date, driven by strong earnings growth and a path to profitability [1][2]. Financial Performance - In Q4 of fiscal year 2024, Sphere Entertainment's revenue surged to $273.4 million, up from $129 million a year ago, with over 100% of this growth attributed to the Sphere entertainment venue [3]. - The MSG regional sports network saw a slight decline in revenue, while the Sphere venue generated $151 million in revenue in the three months ending in June, indicating its popularity since opening [3]. - The consolidated business reported an operating loss of $71.4 million for the quarter, primarily due to depreciation and amortization from the Las Vegas Sphere's construction costs [5]. - Free cash flow has improved, decreasing from nearly $1 billion in annual burn to a loss of $284 million over the last 12 months, suggesting potential for further improvement [5]. Market Potential - Sphere Entertainment has a market capitalization of $1.7 billion and is generating over $1 billion in rapidly growing revenue, indicating significant value potential for shareholders if the company achieves positive cash flow [6]. - Management plans to expand by opening more spheres in international markets, with the current segment generating close to $500 million in annual sales, suggesting that additional venues could lead to billions in revenue [7]. - The unique offerings at the Sphere venue, such as the Postcard From Earth event, which averaged over $1 million in daily ticket sales, highlight the strong demand for its events [4].

Sphere Entertainment Co. (NYSE:SPHR) Q4 2024 Earnings Conference Call August 14, 2024 10:00 AM ET Company Participants Jim Dolan - Executive Chairman, Chief Executive Officer Dave Byrnes - Executive Vice President, Chief Financial Officer, Treasurer Ari Danes - Investor Relations Conference Call Participants Brandon Ross - LightShed Partners Peter Henderson - Bank of America David Karnovsky - JP Morgan Peter Supino - Wolfe Research David Joyce - Seaport Research Partners Operator Good morning. Thank you fo ...

Core Insights - Sphere Entertainment reported a narrower-than-expected loss in its fiscal fourth quarter, with total revenue exceeding estimates and more than doubling year-over-year due to the opening of the Sphere in Las Vegas [1][2] - The Sphere contributed over $150 million in revenue during Q4, which included part of a 30-show residency by Dead & Co. [1][2] - The diluted loss per share was $1.31, significantly better than analysts' expectations, compared to a profit of $15.24 per share in the previous year [3] Financial Performance - Total revenue for the quarter was $273.4 million, surpassing estimates and more than doubling from the previous year [2] - The company experienced a 5.5% increase in share price, reaching $43.00, and shares have risen over 26% year-to-date [4] Management Commentary - CEO James Dolan stated that fiscal 2024 marked the opening of the Sphere in Las Vegas, indicating a new chapter for the company and expressing confidence in the execution of their vision for this next-generation medium [4]

Sphere Entertainment (SPHR) came out with a quarterly loss of $2 per share versus the Zacks Consensus Estimate of a loss of $2.47. This compares to earnings of $10.21 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 19.03%. A quarter ago, it was expected that this company would post a loss of $0.35 per share when it actually produced a loss of $1.33, delivering a surprise of -280%. Over the last four quarters, the company has ...

SPHERE ENTERTAINMENT CO. REPORTS FISCAL 2024 FOURTH QUARTER AND FULL YEAR RESULTS (1) (1) NEW YORK, N.Y., August 14, 2024 - Sphere Entertainment Co. (NYSE: SPHR) ("Sphere Entertainment" or the "Company") today reported financial results for the fiscal fourth quarter and full-year ended June 30, 2024. Recent Sphere highlights include: • Dead & Co. completed a successful 30-show residency in early August, while the Eagles residency begins in September and is slated for 20 shows after multiple extensions due t ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to _____________ Commission File Number: 001-39245 SPHERE ENTERTAINMENT CO. (Exact name of registrant as specified in its charter) Delaware 84-3755666 (Sta ...