Sphere Entertainment (NYSE:SPHR) Posts Earnings Results, Beats Estimates By $0.44 EPS

Posted by Brenda Bartman on Aug 1st, 2026

Sphere Entertainment (NYSE:SPHR – Get Free Report) announced its earnings results on Thursday. The company reported ($1.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.51) by $0.44, FiscalAI reports. Sphere Entertainment had a negative net margin of 6.19% and a negative return on equity of 1.38%. The business had revenue of $313.64 million for the quarter, compared to analyst estimates of $307.44 million. During the same quarter in the previous year, the firm posted $3.39 earnings per share. Sphere Entertainment’s revenue was up 10.9% compared to the same quarter last year.

Here are the key takeaways from Sphere Entertainment’s conference call:

Sphere revenue and profitability increased: The Sphere segment generated $226.4 million in revenue, up nearly 30% year over year, while adjusted operating income rose to $39.9 million from $24.9 million.
Wizard of Oz continues to perform strongly: The experience has sold nearly 3.6 million tickets and generated approximately $450 million in ticket sales. Management expects to launch an enhanced “Wizard of Oz 2.0” version around September and believes the production could have a long lifespan.
Expansion and content pipeline are advancing: Construction is underway in Abu Dhabi with completion expected by the end of 2029, while National Harbor is pursuing third-party financing and permitting. Management also expects “The Rocky Horror Picture Show” to debut in 2027 and estimates three to four Sphere experiences could be available by the end of that year.
MSG Networks weakened materially: Revenue fell to $87.3 million from $107.1 million, and adjusted operating income declined to $11 million from $36.5 million, reflecting an approximately 16.5% subscriber decrease and lower advertising revenue.
Advertising and sponsorship momentum improved: Exosphere advertising, sponsorship, and suite license fees grew, with management citing major-brand activations and a pipeline of potential multi-year partnerships extending into 2027.

Sphere Entertainment Stock Performance

Shares of SPHR traded down $4.88 during mid-day trading on Friday, reaching $143.44. The company’s stock had a trading volume of 1,102,139 shares, compared to its average volume of 649,174. The business has a 50-day simple moving average of $147.77 and a two-hundred day simple moving average of $127.09. Sphere Entertainment has a 1-year low of $37.89 and a 1-year high of $174.60. The stock has a market cap of $5.09 billion, a P/E ratio of -53.52 and a beta of 1.61. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.32.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SPHR. Bank of America boosted their price objective on Sphere Entertainment from $110.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, April 9th. Citigroup reiterated a “market outperform” rating on shares of Sphere Entertainment in a research report on Wednesday, June 17th. Guggenheim lifted their price objective on Sphere Entertainment from $188.00 to $193.00 and gave the stock a “buy” rating in a research report on Friday. Susquehanna raised their target price on Sphere Entertainment from $159.00 to $182.00 and gave the stock a “positive” rating in a report on Thursday, June 18th. Finally, New Street Research set a $188.00 price target on Sphere Entertainment in a report on Tuesday, July 14th. Eleven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $163.38.

Check Out Our Latest Research Report on Sphere Entertainment

Hedge Funds Weigh In On Sphere Entertainment

A number of large investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its position in shares of Sphere Entertainment by 132.0% in the first quarter. Goldman Sachs Group Inc. now owns 628,886 shares of the company’s stock valued at $20,577,000 after acquiring an additional 357,794 shares during the period. Mane Global Capital Management LP acquired a new stake in Sphere Entertainment in the third quarter valued at approximately $22,143,000. Woodline Partners LP acquired a new position in Sphere Entertainment in the 3rd quarter worth about $20,503,000. Islander Capital Partners L.P. bought a new stake in Sphere Entertainment during the 4th quarter worth approximately $20,920,000. Finally, Voloridge Investment Management LLC raised its position in Sphere Entertainment by 419.8% during the 4th quarter. Voloridge Investment Management LLC now owns 212,086 shares of the company’s stock worth $20,165,000 after purchasing an additional 171,285 shares during the last quarter. Institutional investors own 92.03% of the company’s stock.

More Sphere Entertainment News

Here are the key news stories impacting Sphere Entertainment this week:

Positive Sentiment: Quarterly results exceeded expectations: Sphere Entertainment reported a loss of $1.07 per share, narrower than the $1.51–$1.52 analyst consensus, while revenue of $313.64 million beat estimates of approximately $307.44 million. Revenue increased 10.9% year over year, providing the main catalyst for the stock’s recent increase. Sphere Entertainment Reports Second Quarter 2026 Results
Positive Sentiment: Analyst remains bullish: JPMorgan lowered its price target modestly from $165 to $164 but maintained an “overweight” rating. The revised target still implies meaningful upside from the stock’s recent trading level, suggesting confidence in Sphere’s long-term growth prospects. JPMorgan price target update
Positive Sentiment: Expansion opportunity remains intact: The company selected Yas Island in Abu Dhabi as the site for Sphere Abu Dhabi, with completion expected by the end of 2029. A second international venue could expand the company’s revenue base and validate its entertainment-platform strategy. Sphere Abu Dhabi announcement
Neutral Sentiment: Valuation is mixed: Commentary suggests Sphere looks reasonable when valued on cash flow, but its earnings-based valuation is stretched. This may limit further gains unless the company delivers sustained earnings growth. Sphere Entertainment valuation analysis
Negative Sentiment: Profitability remains a concern: Despite beating estimates, the company remained unprofitable, compared with positive earnings in the prior-year quarter. Its negative return on equity and elevated earnings multiple leave the stock vulnerable if growth or Sphere attendance disappoints.

About Sphere Entertainment

(Get Free Report)

Sphere Entertainment Co (NYSE: SPHR) is a publicly traded company focused on the development and operation of large-scale immersive entertainment venues. Established as a standalone entity in early 2023 following its separation from Madison Square Garden Entertainment, Sphere leverages cutting-edge audiovisual technologies to create next-generation concert, film and cultural experiences. The company’s flagship venue in Las Vegas showcases its core capabilities, while additional projects are in various stages of development around the world.

At the Las Vegas Sphere, Sphere Entertainment has installed one of the largest LED display surfaces on the planet, wrapping audiences in 16K resolution imagery and spatial audio powered by proprietary sound systems.