Manchester United (NYSE:MANU) reported on Wednesday a net profit of $5.6 million (£4.2 million) for its fiscal second quarter ended December 31, 2025, a significant turnaround from the $34.7 million loss recorded in the same period last year.
The Manchester-based club posted earnings of $0.03 per diluted share, driven primarily by a massive restructuring effort that successfully lowered operating expenses.
Total revenue for the quarter was $253.2 million (£190.3 million), representing a 4.2% year-over-year decrease.
The decline was largely attributed to the men's first team's absence from the lucrative UEFA Champions League, which pressured broadcasting and matchday receipts.
However, the club saw a strong offset in its commercial division, bolstered by its new front-of-shirt partnership with Snapdragon and a full quarter of results from its revamped e-commerce model.
The transition to profitability was underpinned by an 11.5% reduction in operating expenses, totaling $231.5 million.
Management noted that these savings were achieved through a comprehensive headcount reduction program and a "sustainably lower cost base" implemented throughout late 2024 and 2025.