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MSG Networks reports first-quarter loss of $119.7 million


NEW YORK — MSG Networks Inc. (MSGN) on Thursday reported a fiscal first-quarter loss of $119.7 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the New York-based company said it had a loss of $1.58. Earnings, adjusted to account for discontinued operations, were 54 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 53 cents per share.

The media company posted revenue of $148.1 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $146.2 million.

MSG Networks shares fell 68 cents to $20.20 in morning trading.


This story has been corrected to report the company's correct name and description.


Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MSGN at http://www.zacks.com/ap/MSGN


Keywords: MSG, Earnings Report

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