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Madison Square Garden (MSGS) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

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Madison Square Garden (MSGS - Free Report) reported $403.42 million in revenue for the quarter ended December 2025, representing a year-over-year increase of 12.8%. EPS of $0.34 for the same period compares to $0.05 a year ago.

The reported revenue represents a surprise of +2.62% over the Zacks Consensus Estimate of $393.13 million. With the consensus EPS estimate being $0.66, the EPS surprise was -48.09%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Madison Square Garden performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
  • Total revenues from contracts with customers- Event-related: $167.24 million versus the three-analyst average estimate of $164.45 million. The reported number represents a year-over-year change of +20%.
  • Total revenues from contracts with customers- League distributions and other: $15.39 million versus $11.75 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +27.5% change.
  • Total revenues from contracts with customers- Sponsorship, signage and suite licenses: $98.45 million versus $86.57 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +24% change.
  • Total revenues from contracts with customers- Media rights: $122.35 million compared to the $130.35 million average estimate based on three analysts. The reported number represents a change of -3.6% year over year.

View all Key Company Metrics for Madison Square Garden here>>>

Shares of Madison Square Garden have returned -1.9% over the past month versus the Zacks S&P 500 composite's -2% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

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