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WWE Trades Higher On Q2 Earnings

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World Wrestling Entertainment, Inc. (NYSE: WWE) reported second-quarter earnings of 11 cents per share, which may not compare to the analyst consensus estimate of 4 cents. This is a 21.43% decrease over earnings of 14 cents per share from the same period last year.

The company reported quarterly sales of $268.9 million, which missed the analyst consensus estimate of $275.03 million by 2.23%. This is a 4.51% decrease over sales of $281.6 million the same period last year.

WWE reaffirmed 2019 guidance, targeting sales of $1 billion.

See Also: WWE Goes Back To The 'Attitude Era' To Try And Freshen Up Sagging TV Ratings

"During the quarter, we made progress on key strategic initiatives," stated Vince McMahon. "We completed content distribution agreements in key international markets, prepared for the next phase of our WWE Network service, and achieved steady improvement in engagement metrics. As indicated previously, we remain excited about the future, particularly with our debut on Fox in October."

WWE are trading higher by 3.3% at $70.99 in Thursday’s pre-market session. The stock has a 52-week high of $100.45 and a 52-week low of $58.50.

Posted-In: Earnings News Guidance

 

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