United have confirmed commercial income of £42.3million, up 18.8% for the quarter and 30% for the year so far.
In the quarter to December 31, United activated six new sponsorship deals, with the prospect of more to come, even though Woodward concedes David Moyes' first season in charge has not gone to plan.
"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 team manager down has acknowledged is disappointing," said Woodward.
"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."