May 21, 2020 / 11:12 AM / 12 days ago

Manchester United withdraws 2020 forecast as soccer put on hold

May 21 (Reuters) - Manchester United reported a drop in core earnings and revenue for a second consecutive quarter on Thursday and abandoned its annual financial targets amid uncertainty over how soccer will overcome the coronavirus crisis.

Third-quarter profit fell 32% to 27.9 million pounds on revenue of 123.7 million pounds, down 19%, it said.

“Operationally, the impact of the pandemic and measures to prevent further spread continue to disrupt ...businesses in a number of ways, most significantly in broadcasting and match day operations,” the company said in a statement.

Reporting by Yadarisa Shabong and Shashwat Awasthi in Bengaluru; editing by Jason Neely

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