Madison Square Garden Sports Q2 Bottom-Line Lags Street View

Madison Square Garden Sports Corp (NYSE:MSGS) reported second-quarter FY23 sales growth of 22% year-on-year to $353.7 million, beating the consensus of $314.1 million.
Direct operating expenses increased 17% Y/Y to $225.7 million.
Operating income for the quarter was $51.5 million, with an operating margin of 14.6%.
EPS was $0.84, missing the consensus of $1.36.
The company held $45 million in cash and equivalents as of Dec. 31, 2022. Net cash provided by operating activities for six months totaled $31.5 million.
Executive Chairman James L. Dolan said, " We are confident in the strength of our sports franchises and our ability to generate long-term value for shareholders."
Price Action: MSGS shares are trading lower by 0.88% at $178.15 on the last check Tuesday.