WWE shares rise 6% on earnings beat

published 30.07.2020 23:42

WWE, +0.41% shares were up 6% in after-hours trading Thursday after the sports-entertainment company reported fiscal second-quarter results that exceeded Wall Street estimates.

WWE reported net income of $43.8 million, or 52 cents per diluted share, compared with net income of $10.4 million, or 11 cents a share, in the year-ago quarter.

WWE has been hit harshly by coronavirus, which has eliminated its ability to host events with fans and, surprisingly, driven its TV ratings to all-time lows.

Analysts surveyed by FactSet had expected adjusted net income of 15 cents a share on sales of $231 million.

WWE's shares are down 30% this year.

by Jon Swartz from feeds.marketwatch.com

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