QCOM - Manchester United Q3 Earnings Preview: Can Soccer Team Overcome English Premier League Disappointment Champions League Miss Going Forward? | Benzinga
The sport of soccer is making headlines with viewers tuning into the 2024 Copa America and Euro international tournaments.
A publicly traded soccer team is on deck to report quarterly earnings on Wednesday before the market opens.
Earnings Estimates: English soccer team Manchester United PLC (NYSE:MANU) is expected to report third-quarter revenue of $162.9 million according to data from Benzinga Pro.
The company reported revenue of $206.5 million in last year's third quarter and has beaten analysts' estimates in six straight quarters.
Analysts expect the company to report a loss of 27 cents per share in the third quarter, compared to a loss of 9 cents in last year's third quarter. The company has missed analysts' earnings per share estimates in four of the past five quarters.
Recent Minority Sale: Manchester United made headlines in recent months with Jim Ratcliffe taking a minority stake in the team, buying 25% of Class B and 25% of Class A shares.
The billionaire bought shares at $33 each and a team valuation of $6.3 billion. Shares of Manchester United have fallen significantly in 2024 as reports originally saw the team being sold in its entirety.
A look at the chart from Benzinga Pro below shows shares of Manchester United down 22.5% year-to-date.