World Wrestling Entertainment Inc.
WWE,
said Wednesday its second-quarter profit increased to $52 million, or 67 cents a share, from $49 million, or 58 cents a share, in the year-ago quarter. Adjusted profit at the media and entertainment company totaled 91 cents a share, in line with the Wall Street analyst estimate, according to FactSet data. Revenue increased by 25% to $410.3 million, a record, and above the analyst forecast of $397.6 million. The company said it staged the most successful WrestleMania “of all time” in April. WWE stock was down 1% in premarket trades on Wednesday. WWE’s executive chairman Vince McMahon has repaid $17.4 million to date to reimburse WWE for costs related to a special committee investigation into alleged misconduct, the company said.
