Madison Square Garden (NASDAQ:MSG) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. Net income increased 83.06% to $46.9 million (60 cents per diluted share) in the quarter versus a net gain of $25.62 million in the year-earlier quarter. Revenue rose 3.99% to $387.9 million from the year-earlier quarter.
Madison Square Garden, Inc. reported adjusted net income of 60 cents per share. By that measure, the company beat the mean analyst estimate of $0.36. It missed the average revenue estimate of $407 million.