U2 has been selling out shows at the MSG Sphere. But the high-tech venue got a disappointing revenue update after its first-quarter opening.

Sphere-d out

The Las Vegas Sun is reporting that the Sphere has lost $98.4 million in losses. Sphere Entertainment Co.  announced this on their morning earnings call. Granted, this first fiscal quarter ends on September 30, which was the night of the second U2 show at the venue.

To make matters worse, the Chief Financial Officer, Gautam Ranji, resigned from the company, per a Securities and Exchange Commission filing. The company claimed that Ranji's exit was “not a result of any disagreement with the company's independent auditors or any member of management on any matter of accounting principles, financial statement disclosure or internal controls.”

This contradicts the New York Post's report from November 7 that claimed Ranji left after a shouting match with James Dolan.

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The high-tech Sphere venue was a $2.3 billion venture. It's become a pop culture phenomenon, and Disney even held the premiere of The Marvels at the venue. The Sphere's outside featured Goose the cat earlier this week.

Currently, U2 is opening the Sphere with their U2:UV Achtung Baby Live at Sphere shows. The shows commemorate the 1991 album, Achtung Baby, and play the album in full. Bono, The Edge, and Adam Clayton are joined by Dutch drummer Bram van den Berg for the shows as Larry Mullen Jr. deals with his health issues.

It's unknown who will fill U2's big shoes after they are done with the venue. Hopefully, the Sphere Entertainment Co. will have a rebound in Q2.