Stock of Sphere Entertainment Co. (SPHR) is rising about 17 percent during Thursday morning trading as the company turned to profit in the fourth quarter, reporting a net income of $57.6 million compared with a net loss of $125.9 million in the previous year.
The company's stock is currently trading at $111.71, up 17.57 percent or $16.63, over the previous close of $94.91 on the New York Stock Exchange. It has traded between $23.89 and $115.70 in the past one year.
Revenues during the quarter rose 28 percent, to $394.3 million from last year's $308.3 million.
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