Manchester United Q3 Loss Sharply Widens, But Reiterates FY24 Revenue Outlook

(RTTNews) - Manchester United (MANU) announced Wednesday a third-quarter net loss of 71.4 million British pounds or 43.12 pence per basic share, sharply wider than 5.6 million pounds or 3.40 pence per basic share in the prior-year quarter.

Excluding items, adjusted loss per basic share for the quarter was 24.47 pence, compared to adjusted loss per basic share of 7.41 pence in the year-ago quarter.

Total revenues for the quarter declined 19.6 percent to 136.7 pounds from 170.0 pounds in the same quarter last year.

Broadcasting revenue dipped 26.0 percent to 37.5 million pounds and matchday revenue slipped 40.7 percent to 29.6 million pounds, while commercial revenue edged up 0.3 percent to 69.6 million pounds from last year.

Looking ahead to fiscal 2024, the company reiterates its previous revenue guidance of 635 million pounds to 665 million pounds and its previous adjusted EBITDA guidance of 125 million pounds to 150 million pounds.

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