Manchester United stock gains on strong third-quarter results, with revenues up 17.4%. CEO announces plans for new stadium, disappointed with EU League loss.
As part of a major restructuring, Manchester United plc (NYSE: MANU) expects up to 200 job cuts. This comes after reducing 250 roles last year, as the club works toward reversing financial losses and strengthening its overall operations.
ManUtd's fiscal Q1 2025 sales decline by 8.9% to 143.1M British pounds, missing analyst estimate. Operating loss of (6.9)M pounds, adj. EBITDA of 23.7M pounds, EPS loss of (0.21) pence, revenue outlook of 650M-670M pounds.
Manchester United reported a Q4 sales decline of 15.0% year-on-year to 142.2 million pounds, missing analyst estimate. Operating loss was 32.4 million pounds and adjusted EPS loss was $0.20. Company expects fiscal 2025 revenue of 650-670 million pounds and adjusted EBITDA of 145-160 million pounds.
Manchester United reported a 19.6% drop in Q3 FY24 sales, surpassing the consensus estimate of $162.92 million. Broadcasting revenue fell 26%, while commercial revenue edged up 0.3%.
The market’s bullish bias will likely be put to the test on Wednesday as some key market-moving catalysts due this week could pose a threat to the upward momentum.
