MSG beats 3Q net income and revenue expectations

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NEW YORK — The Madison Square Garden Co. (MSG) on Friday reported fiscal third-quarter earnings of $39.7 million.

On a per-share basis, the New York-based company said it had profit of 51 cents.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.

The media company and sports team owner posted revenue of $449.4 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $445.2 million.

MSG shares have risen almost 7 percent since the beginning of the year. The stock has risen 47 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MSG at http://www.zacks.com/ap/MSG

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Keywords: MSG, Earnings Report

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