Manchester United announced record first-quarter revenue of £141 million on Thursday, but player wages have risen as a result of their Champions League return.
In January, United moved back to the top of the Deloitte Football Money League for the first time since 2005.
The Red Devils became the first British club to break the half-a-billion pound revenue mark in 2016, a position which was improved on with overall revenue rising from £515.3m to £581.2m for the year ending June 30, 2017.
The latest set of accounts published on Thursday, which cover the first quarter of 2018 ending Sept. 30, 2017, show a 17 percent increase in total revenue from £120.2m over the same period last year.
Commercial revenue for the quarter was £80.5m, an increase of £6.2m, which was boosted by five tour matches across the United States, including fixtures against the LA Galaxy, Real Salt Lake, Real Madrid and Barcelona as well as domestic rivals Manchester City.
United also spent around £145m ahead of the new campaign, bringing in the likes of striker Romelu Lukaku from Everton, midfielder Nemanja Matic from Chelsea and defender Victor Lindelof from Benfica.