Why WWE Shares Are Rising

World Wrestling Entertainment, Inc. WWE shares are trading higher by 10% at $52.62 after the company reported fourth-quarter earnings results.

World Wrestling Enter beat estimated earnings by 46.15%, reporting an EPS of $0.76 versus an estimate of $0.52, which surprised analysts. Revenue was up $72.10 million from the same period last year.

"In 2021, we reached a significant milestone of over $1 billion in revenue, for the first time in the Company's history. We ended the year with strong performance across each of our business lines that reflected the engagement of a wider audience with distribution on new digital platforms, including Peacock, and the return of fans at our live events," said Vince McMahon, WWE Chairman & CEO.

"We expect the execution of key initiatives in the coming year, such as the licensing of network content in international markets, monetization of new original series, and the continued shift to a stadium strategy for WWE's premium live events, will further expand the reach of our brands and enhance the value of our content," McMahon stated.

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WWE develops and produces television programming, pay-per-view programming, and live wrestling events.

WWE has a 52-week high of $70.72 and a 52-week low of $45.87.