World Wrestling Entertainment Registers Mixed Q2 Performance; Foresees Revenue Decline In Q3
Portfolio Pulse from Shivani Kumaresan
World Wrestling Entertainment Inc (WWE) reported Q2 FY23 sales growth of 25% YoY to $410.30 million, beating the analyst consensus. The revenue increase was due to the timing of a large-scale international event, increased media rights fees, and higher live events revenue. However, the company anticipates a YoY decrease in Q3 revenue, primarily due to expected declines in the Consumer Products segment and third-party original programming revenue. WWE shares traded lower by 0.22% at $103.83.
August 04, 2023 | 11:27 am
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WWE reported strong Q2 results but expects a decrease in Q3 revenue. The stock traded lower by 0.22%.
WWE's strong Q2 results were driven by the timing of a large-scale international event, increased media rights fees, and higher live events revenue. However, the company's anticipation of a decrease in Q3 revenue, primarily due to expected declines in the Consumer Products segment and third-party original programming revenue, could negatively impact investor sentiment and the stock price in the short term.
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