Losses have continued to mount at Manchester United despite revenue rising, new figures have revealed.
United have posted a net loss of £26.5m for the three months to the end of September compared to a £15.5m loss during the same period in 2021.
That's despite total revenue increasing from £126.5m to £143.7m.
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According to the first quarter figures, the club's commercial revenue rose 35.7% to £87.4m while matchday revenue grew by 13.3% to £21.3m. However, broadcast revenue fell 19.2% to £35m.
But United have raised their full-year guidance and said they now expect their total revenue will be between £590m and £610m, "driven by strong matchday revenues".
They added that their adjusted EBITDA will be between £125m and £140m as a result of reduced player wage costs.
The figures come after the Glazers confirmed they are considering selling Manchester United or accepting new investment into the Premier League club.
They also have been published after the club recently agreed the departure of Cristiano Ronaldo.
United said that its first quarter results were impacted by the postponement of two Premier League matches due to the death of The Queen.
They added that their second quarter results will also be impacted by the FIFA World Cup.
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