Earnings for European football company Manchester United’s (NYSE:MANU) fiscal first quarter of 2020 sent its stock up more than 1% on Monday. Much of the jump comes from its adjusted earnings per share of 3 pence. That’s much better than Wall Street’s estimate of a 4-pence-per-share loss. Although revenue of £135.4 million is below analysts’ estimates, MANU stock still isn’t in the red.
Let’s take a closer look at the most recent Manchester United earnings report.
- Adjusted EPS for the quarter is down 25% from 4 cents in the fiscal first quarter of 2019.
- Revenue is 3% higher than the £135 million in the same period of the year prior.
- Operating profit of £11 million is a 20.9% decrease YoY from £13.9 million.
- The Manchester United earnings report also includes a net income of £1.1 million.
- This is an 83.3% drop from the £6.6 million reported during the same time last year.
Ed Woodward, Executive Vice Chairman of Manchester United, has this to say about the MANU stock earnings.
“We are very proud to be shortly approaching a milestone 4,000th game featuring an Academy player, and we are particularly optimistic regarding the considerable young talent currently coming through. Our ultimate goal is to win trophies by playing exciting football with a team that fuses graduates from our Academy with world-class acquisitions.”
The Manchester United earnings report also reaffirmed its outlook for fiscal 2020. MANU anticipates revenue between £560 million to £580 million for the year, which is less than the Street’s expectations for MANU’s fiscal 2020.
MANU stock was up 1.25% as of Monday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.