Manchester United raises 2023 revenue outlook

(Reuters) -Manchester United on Thursday raised its 2023 total revenue guidance on the back of strong matchday revenue.

The soccer club said it expects total revenue in the range of 590 million to 610 million pounds in 2023, up from its prior range of 580 million to 600 million pounds.

The company’s shares rose 1% in extended trading.

However, the company posted a bigger first-quarter net loss, hurt by the postponement of two Premier League games due to the death of Queen Elizabeth, as well as the timing of the 2022 FIFA World Cup.

The company’s net loss for the three months ended Sept. 30 came in at 26.5 million pounds ($32.43 million), compared with a loss of 15.5 million pounds a year earlier.

($1 = 0.8172 pounds)

(Reporting by Nathan Gomes in Bengaluru; Editing by Maju Samuel)