Manchester United has raised its fiscal 2023 total revenue guidance on the back of strong matchday revenue.

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

The new came as the company announced financial results for the 2023 fiscal first quarter ended September 30, 2022.

However, the company’s net loss for the three months came in at £26.5 million, compared with a loss of £15.5 million pounds a year earlier.

“For fiscal 2023, the company is raising its guidance and expects total revenues to be within a range of £590 million to £610 million, driven by strong Matchday revenues, and adjusted EBITDA to be within a range of £125 million to £140 million, as a result of reduced player wage costs,” said the company.

“Quarterly results are impacted by the postponement of two Premier League games, which were due to be played in first quarter and were delayed due to the Queen’s passing, as well as the timing of the 2022 FIFA Men’s World Cup, which began 20 November 2022 and continues to 18 December 2022.”