New Delhi: WWE announced its earnings for the second quarter of this year and have surprisingly exceeded the expectations of every analyst.
WWE earned a net income of $49 million in its second quarter from its pay-per-views and live events. Last year, the company earned $29.2 million in the second quarter. Not just revenue and earnings, WWE’s operating income has also grown by 50% to $69.3 million. In fact, the overall revenue has increased by 24% to $328.2 million in this quarter when compared to 2021.
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The new WWE regime led by Stephanie McMahon, Nick Khan, Triple H, and more recently hosted a Second Quarter 2022 Earnings call from their headquarters in Stamford, CT.
WWE is going through a transitional phase following the allegations against its former CEO, Vince McMahon. The 76-year-old had to retire following the hush-money scandal that was uncovered recently. Many analysts predicted that Mr. McMahon’s last quarter as the CEO might see a decline in the company’s earnings.
WWE’s chief financial and administrative officer Frank A. Riddick said, “Our revenue increased primarily due to the return of a full schedule of live events.”
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WWE might have earned more money in its second half but with the company going to UK and Saudi later this year, it would be interesting to see how much revenue the new WWE regime generates in the last six months of 2022.
