© Reuters
By Yasin Ebrahim
Investing.com — Manchester United reported Thursday fiscal first-quarter results that fell short of estimates at a time when a potential sale of the football club has recently sent its shares sharply higher.
Manchester United (NYSE:) rose 0.7% in afterhours trading following the report.
The football club an adjusted loss per share of £6.08p ($1 = £0.82) on revenue of £143.7 million, short of estimates for a loss of £0.15 per share on revenue of £130.2M.
For fiscal 2023, the company guided revenue in a range of £590M to £610M, up from a prior estimate of £580M to £600M. Analysts had expected annual revenue of £722.2M.
Manchester United continues to garner speculation about a potential takeover after the Glazer Family, owners of the club since 2005, confirmed that they are open to a sale.
The news has helped push shares of the football club up 70% since the announcement in November.
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