The Premier League champions have struggled to defend their crown in the current campaign, with the club languishing down in seventh place, 16 points behind Chelsea
|MAN UTD QUARTERLY RESULTS
|RECORD €149.5M REVENUE ANNOUNCED
Moyes's side face Arsenal at the Emirates Stadium on Wednesday with anything but a win likely to see them fall further behind in the race to secure a Champions League spot.
In a statement to shareholders, where United announced second-quarter revenue of €149.5 million, Woodward acknowledged that things haven't gone to plan on the pitch in the league.
"We once again achieved a record revenue quarter with strong contributions from our commercial and broadcasting businesses despite the current league position, which everyone from the manager down has acknowledged is disappointing," the statement read.
"We continue to see meaningful opportunities to grow our commercial business and the popularity of football on TV is leading to continued broadcasting revenue growth – all of which bodes well for the long-term stability and financial strength of our business.
"We are also very pleased to have added a world class player in Juan Mata to our squad, who has already made a positive impact."