WWE takes down COVID-19

World Wrestling Entertainment shares had their best day in almost two years after easily beating Wall Street’s first-quarter forecasts. CEO Vince McMahon said COVID-19 has had a limited financial impact on the Connecticut company. Despite having no live audience, WWE’s WrestleMania earlier this month had more than 967 million video views online, up 20% from last year. WWE revenues increased 60% to $291 million
and its operating income was $53.3 million compared to a $6.8 million loss in 2019’s first quarter. McMahon said WWE would continue adapting to the challenges coronavirus poses to its business. “So there’s a lot of factors going into what the new normal is going to be,” McMahon said. “But our growth prospects remain strong all the way across the board.” WWE shares gained more than 14.6% to close at $44.79 Friday.