Sphere Entertainment Co. Reports First Quarter 2025 Results
NEW YORK, N.Y., May 8, 2025 – Sphere Entertainment Co. (NYSE: SPHR) (“Sphere Entertainment” or the “Company”) today reported financial results for the first quarter ended March 31, 2025.(1)
Recent Sphere operating highlights include:
- The Company announced new multi-year marketing partnerships with Pepsi and Google;
- Sphere in Las Vegas is on track to host multiple corporate events in the second quarter, including Hewlett Packard Enterprise for the second consecutive year;
- Insomniac and Tomorrowland announced ‘Unity’ – Sphere’s next electronic dance music event – with nine shows scheduled between the end of August and October; and
- Dead & Company is in the midst of an 18-show residency (following their 30-show run in 2024), which will be followed by residencies from Kenny Chesney and the Backstreet Boys, as well as the return of the Eagles this fall.
For the three months ended March 31, 2025, the Company reported revenues of $280.6 million, a decrease of $40.8 million as compared to the prior year quarter. In addition, the Company reported an operating loss of $78.6 million, an increase of $38.2 million, and adjusted operating income of $36.0 million, a decrease of $25.6 million, both as compared to the prior year quarter.(2)
Executive Chairman and CEO James L. Dolan said, “Our Sphere segment generated positive adjusted operating income in the first quarter as we make progress on our strategic priorities for the business. We remain confident in the opportunities ahead for Sphere and our ability to drive growth this calendar year.”