MSG sees higher ad revenue

Investor's Business Daily

The owner of the Madison Square Garden arena, the N.Y. Knicks, and other sports and media assets reported Q2 EPS of 60 cents, up 82% and 24 cents over analysts' forecasts. Revenue climbed 4% to $387.9 mil, missing. Madison Square Garden's (MSG) media division revenue climbed 10% to $156.8 mil, mostly on higher ad revenue. But the NHL work stoppage delayed the start of the hockey season. Shares rose 2.4% to 53.34.

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