Sphere Entertainment Co. (NYSE:SPHR) Q3 2024 Earnings Conference Call May 10, 2024 10:00 AM ET

Company Participants

Ari Danes - Investor Relations
James Dolan - Executive Chairman and Chief Executive Officer
David Byrnes - Executive Vice President, Chief Financial Officer and Treasurer
Andrea Greenberg - President and Chief Executive Officer, MSG Networks

Conference Call Participants

Brandon Ross - LightShed
Peter Henderson - Bank of America
Benjamin Swinburne - Morgan Stanley
David Karnovsky - JPMorgan
Logan Angress - Wolfe Research
David Joyce - Seaport Global
Paul Golding - Macquarie Capital

Operator

Hello and thank you for standing by. My name is Regina and I will be your conference operator today. At this time, I would like to welcome everyone to the Sphere Entertainment Co. Fiscal 2024 Third Quarter Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions]

I would now like to turn the conference over to Ari Danes, Investor Relations. Please go ahead.

Ari Danes

Thank you. Good morning and welcome to Sphere Entertainment's Fiscal 2024 Third Quarter Earnings Conference Call. Today's call will begin with our Executive Chairman and CEO, Jim Dolan, who will provide an update on Sphere. Dave Byrnes, our Executive Vice President, Chief Financial Officer and Treasurer, will then review our financial results for the period.

After our prepared remarks, we will open up the call for questions. If you do not have a copy of today's earnings release, it is available in the Investors section of our corporate website.

Please take note of the following. Today's discussion may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements.

Please refer to the company's filings with the SEC for a discussion of risks and uncertainties. The company disclaims any obligation to update any forward-looking statements that may be discussed during this call.

On pages five and six of today's earnings release, we provide consolidated statements of operations and a reconciliation of operating income to adjusted operating income, or AOI, a non-GAAP financial measure.

And with that I'll now turn the call over to Jim.

James Dolan

Thank you, Ari, and good morning, everyone. As you know, Sphere was built with the idea of disrupting the traditional venue model. We saw this thesis begin to play out in the December quarter. Today, we reported results for our second full quarter of operations in Las Vegas. And while it is still early days, we're pleased with our progress and remain optimistic about our vision for this new medium.