FC Barcelona's Selloff Brings Revenue Forecast of $1.3 Billlion [Business News Network (BNN) (Canada)]
Spotify Technology S.A. Ordinary Shares (SPOT)
Last spotify technology s.a. ordinary shares earnings: 4/29 06:00 am
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Source: Business News Network
The storied Spanish football club is forecasting revenue of 1.26 billion euros ($1.3 billion), some 240 million more than in 2021/2022, it said in a statement published late Monday. Profit is expected to reach 274 million euros, a 180% jump over the previous season. An uncontrolled surge in costs of signing and paying players, paired with a steep drop in ticket and merchandising revenue during the pandemic, pushed the club's debts and liabilities up to 1.35 billion euros. That prompted President Joan Laporta to divest part of the club's assets to raise fresh funds in an attempt to strengthen its finances. Barcelona sold 25% of its media rights for 25 years to San Francisco-based investment firm Sixth Street Partners in two transaction in June and July, booking a 667 million-euro gain. It also raised an additional $203 million from the sale of a 49% stake in its content production arm Barcelona Studios in two separate transactions. The club also sealed a long-term sponsorship agre
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SPOT
Earnings
- 4/23/24 - Beat
SPOT
Sec Filings
- 4/23/24 - Form 6-K
- 4/17/24 - Form 6-K
- 4/4/24 - Form 6-K
- SPOT's page on the SEC website