World Wrestling Entertainment beats second quarter estimates, re-reports financials after Vince McMahon investigation

World Wrestling Entertainment Inc. WWE,
On Tuesday, it said second-quarter net income increased to $49 million, or 58 cents per share, from $29.2 million, or 34 cents per share, in the same period last year. Earnings increased from $265.6 million in the same period last year to $328.2 million. Analysts expected him to earn 57 cents per share and he expected earnings of $324.4 million, according to FactSet research. The company also said it had closed an investigation into former CEO Vince McMahon, who resigned on July 22. Although not material, we have determined that the total amount of unrecorded expenses will be material if they are all recorded in the second quarter of 2022,” the company said. WWE has amended its previously issued financial statements to record unrecorded expenses for the years ended 2019, 2020, 2021, and the first quarters of 2021 and 2022. WWE shares rose 0.5% in pre-market trading.

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