Manchester United Q2 Profit Soars; Reiterates FY24 Revenue Outlook
(RTTNews) - Manchester United (MANU) announced Tuesday a second-quarter net income of 20.4 million British pounds or 12.49 pence per basic share, sharply higher than 6.3 million pounds or 3.87 pence per basic share in the prior-year quarter.
Excluding items, adjusted earnings per basic share for the quarter was 11.83 pence, compared to adjusted loss per basic share of 6.18 pence in the year-ago quarter.
Total revenues for the quarter grew 34.9 percent to 225.8 pounds from 167.3 pounds in the same quarter last year.
Broadcasting revenue surged 81.0 percent to 106.4 million pounds and matchday revenue increased 59.2 percent to 47.6 million pounds, while commercial revenue declined 8.8 percent to 71.8 million pounds from last year.
Looking ahead to fiscal 2024, the company reiterates its previous revenue guidance of 635 million pounds to 665 million pounds and its previous adjusted EBITDA guidance of 125 million pounds to 150 million pounds.
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