The Madison Square Garden Company (MSG) Friday reported higher profit for the third quarter influenced by higher revenue from MSG media.
For the quarter the firm posted net income of $38.44 million, up from $31.07 million last year. On a per share basis earnings for the period totaled $0.49 versus $0.40 last year.
Eight analysts on average polled by Thomson Reuters estimated earnings per share of $0.33 for the quarter. Analyst estimates typically exclude one-time items.
Revenue for the period totaled $412.4 million, up from $400.45 million last year. Analysts were looking for lower revenue of $405.11 million for the three months. Revenue from MSG media was $184.7 million, up 11 percent from $166.2 million last year.
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