WORLD WRESTLING ENTERTAINMENT Reports Second Quarter Financial Year 2023 Earnings Results
August 7, 2023
☀️Earnings Overview
On June 30, 2023, WORLD WRESTLING ENTERTAINMENT ($NYSE:WWE) announced its financial results for the second quarter of the 2023 fiscal year. Revenues totaled USD 410.3 million, representing a 25.0% year-over-year increase. Net income for the quarter was USD 52.0 million, up 6.1% from the same period in the prior year.
Market Price
The company’s stock opened at $103.0 and closed at $105.8, up by 1.6% from its prior closing price of 104.1. This marks a significant increase from the previous quarter, with WORLD WRESTLING ENTERTAINMENT outperforming expectations and demonstrating a continued strong performance from the company. WORLD WRESTLING ENTERTAINMENT’s revenue, operating income, and adjusted EBITDA all increased compared to prior year and the prior quarter. This indicates that WORLD WRESTLING ENTERTAINMENT is continuing to improve its performance despite the global pandemic and overall economic uncertainty.
This highlights the continued focus on efficiency and profitability that has become a hallmark of WORLD WRESTLING ENTERTAINMENT’s business strategy during the last few years. Overall, Wednesday’s financial earnings report is an indicator of WORLD WRESTLING ENTERTAINMENT’s continued success in a difficult economy. The company’s stock has responded positively to the news, and investors are likely to remain optimistic about WORLD WRESTLING ENTERTAINMENT’s future performance. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for WWE. More…
| Total Revenues | Net Income | Net Margin |
| 1.34k | 169.13 | 12.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for WWE. More…
| Operations | Investing | Financing |
| 264.48 | -78.87 | 22.03 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for WWE. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.51k | 597.91 | 12.21 |
Key Ratios Snapshot
Some of the financial key ratios for WWE are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 9.3% | 6.8% | 19.8% |
| FCF Margin | ROE | ROA |
| 4.3% | 22.1% | 11.0% |
Analysis
GoodWhale recently conducted an analysis of WORLD WRESTLING ENTERTAINMENT’s wellbeing. After analyzing the company’s overall health, we found that WORLD WRESTLING ENTERTAINMENT has a strong score of 10/10 with regard to its cashflows and debt, indicating that it is capable of safely riding out any situation without the risk of bankruptcy. Based on the Star Chart, we classify WORLD WRESTLING ENTERTAINMENT as a ‘rhino’, which is a type of company that has achieved moderate levels of revenue or earnings growth. With regards to assets, dividends, growth and profitability, the company is in a strong position. Therefore, we believe that WORLD WRESTLING ENTERTAINMENT could be an attractive investment for value investors and growth-oriented investors alike. More…
Peers
The company is engaged in the production and promotion of professional wrestling events, television programming, pay-per-view programming, digital media content, and live events. The company operates through three segments: Media, Live Events, and Consumer Products. The Media segment comprises the company’s television, pay-per-view, digital media, and WWE Network businesses. The Live Events segment promotes and produces live events, such as WWE, NXT, and 205 Live. The Consumer Products segment licenses and markets consumer products based on the company’s brands.
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Summary
WORLD WRESTLING ENTERTAINMENT’s second quarter financial results in 2023 show strong growth in revenue, up 25.0% from the same period one year prior. Net income also rose by 6.1%, indicating that the company’s strategy is paying off. Investors should take note of the company’s solid performance and consider investing in WORLD WRESTLING ENTERTAINMENT for long-term returns. The company is showing good potential for growth, with indicators such as high revenue and net income gains.
Additionally, this could be a good opportunity to buy shares when the stock price is low and benefit from future price appreciation.
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