World Wrestling Entertainment (WWE) Tops Q3 EPS by 19c, Revenues Miss

October 29, 2020 4:13 PM

World Wrestling Entertainment (NYSE: WWE) reported Q3 EPS of $0.57, $0.19 better than the analyst estimate of $0.38. Revenue for the quarter came in at $221.6 million versus the consensus estimate of $222.26 million.

Third Quarter 2020 Highlights*

* (All comparisons are versus the prior year period unless stated otherwise)

Business Outlook

“Our third quarter financial performance was strong and reflected our ongoing creativity in a challenging environment,” said Vince McMahon, WWE Chairman & CEO. “We continue to adapt our business, as demonstrated by the creation of WWE ThunderDome, focusing on increasing audience interaction and engagement to support the value of our content globally.”

Kristina Salen, WWE Chief Financial Officer, added “In the quarter, we delivered revenue of $221.6 million and Adjusted OIBDA of $84.3 million based on increased rights fees for the Company’s flagship programming. With $638 million in cash and short-term investments at quarter-end, we believe WWE has substantial capital resources to manage challenges that may lie ahead and to deliver on key strategic initiatives.”

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

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