Led by increases in entertainment revenue and higher food and beverage sales at the namesake venue Madison Square Garden Entertainment (NYSE: MSGE) Total revenue for the fiscal fourth quarter rose 26% to $186.1 million, beating expectations by $17 million and driving shares ~9% higher in premarket trading on Friday.

“We delivered strong financial results in our first full year as a standalone entertainment company,” said CEO James Dolan, adding that the company expects “robust adjusted operating income growth” for fiscal 2025 thanks to MSGE’s unique portfolio of live entertainment offerings.

This year, MSGE welcomed approximately 6.3 million guests to more than 960 events, including Knicks and Rangers playoff games at The Garden. In addition, more than one million tickets were sold for 193 shows of the record-breaking Christmas Spectacular.

On an unadjusted basis, MSGE reported earnings of $66.9 million, or $1.41 per share, compared to a loss of $24.5 million in the year-ago quarter. Adjusted operating income increased to $13.1 million from $686,000 a year ago.

By segment, entertainment revenue increased 19% to $142 million, while food and beverage revenue increased 48% to $34.7 million. Arena royalties and other leasing revenue nearly doubled to $8.5 million.

Shares are higher in premarket trading and are expected to be higher for the fourth straight day during the regular session.

Press release