World Wrestling Entertainment (WWE) Tops Q2 EPS by 3c

World Wrestling Entertainment (NYSE: WWE) reported Q2 EPS of $0.59, $0.03 better than the analyst estimate of $0.56. Revenue for the quarter came in at $328.2 million versus the consensus estimate of $314.77 million.

2022 Business Outlook

• In February, the Company issued Adjusted OIBDA guidance of $360 - $375 million for the full year 2022. Based on outperformance through the first six months of the year as well as management’s current expectations for the second half of the year, the Company is raising its guidance and now expects full year 2022 Adjusted OIBDA within a range of $370 - $385 million. This range of anticipated performance reflects the continued ramp-up of live events, including large-scale international events, and increased monetization of content, partially offset by increased production, content-related, and other expenses.

Third Quarter 2022 Business Outlook2

• The Company estimates third quarter 2022 Adjusted OIBDA of $70 - $80 million. The estimate reflects strong revenue growth primarily driven by the contractual escalation of domestic media rights fees for the Company’s flagship programs and premium live events as well as the increased monetization of content and an increase in international ticket sales related to the staging of a large-scale event. The Company also anticipates that third quarter results will reflect an increase in operating expenses, including certain costs to support the creation of content.

For earnings history and earnings-related data on World Wrestling Entertainment (WWE) click here.

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