10:59 AM EDT, 07/10/2024 (MT Newswires) -- Manchester United ( MANU ) said Wednesday that it expects full-year revenue to come in at the higher end of its prior guidance despite reporting double-digit declines in two of its three reportable segments in the fiscal third quarter.

The British soccer franchise projects record revenue of 660 million British pounds ($847.1 million) in fiscal 2024, compared with its previous 635 million pounds to 665 million pounds range. Three analysts surveyed by Capital IQ are modeling for revenue of 652.3 million pounds in the ongoing year.

The company forecasts full-year adjusted earnings before interest, taxes, depreciation and amortization at 140 million pounds, toward the higher end of its earlier guidance between 125 million pounds and 150 million pounds.

Shares of Manchester United ( MANU ) rose 3.2% in Wednesday trade.

For the fiscal third quarter, revenue declined 20% year over year to 136.7 million pounds. The company's adjusted loss per share grew 230% to 0.24 pounds for the three months ended March 31.

Broadcasting revenue dropped 26% to 37.5 million pounds due to the men's first team playing in fewer matches. Matchday revenue plummeted 41% to 29.6 million pounds amid nine fewer home matches.

Commercial revenue ticked up 0.3% to 69.6 million pounds, driven by retail, merchandise, apparel and product licensing.

Manchester United's ( MANU ) operating expenses ballooned 15% year over year to 203.7 million pounds.

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