WWE Corp. Tops Wall Street Q2 Estimates As Peacock Boosts Pay-Per-View Results By More Than 25%

WWE Corp. Tops Wall Street Q2 Estimates As Peacock Boosts Pay-Per-View Results By More Than 25%
WWE Corp., which was put in a figure-four leg lock in 2020 by Covid-19, broke free in the second quarter and beat Wall Street estimates for revenue and earnings per share.

Total revenue of $265.6 million gained 19% from a year ago, with the wrestling entity crediting improved monetization and an uptick in live event revenue. In contrast with the doldrums of 2020, the company resumed its trademark live business in the quarter. WrestleMania, a WWE mainstay for almost four decades, became the first ticketed live event since the first quarter of 2020 when it was held in April in Tampa Bay, Fl.

Earnings per share declined from 52 cents to 34 cents on a diluted basis, but that still decisively beat analysts’ consensus outlook for 23 cents. Wall Street had expected $252 million in quarterly revenue.

Last March, the stand-alone WWE Network streaming service was subsumed into NBCUniversal’s Peacock. The transaction gave a boost to the former
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