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WWE Shares Climb After Wrestling Giant Beats Wall Street Q1 Estimates

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By Dade Hayes Finance Editor World Wrestling Entertainment, which has hit some bumps in the road recently, the latest being COVID-19, beat Wall Street estimates for first-quarter revenue and earnings.

Its shares climbed more than 10% on the news. Net income for the period came in at $26.2 million, or 31 cents a share, while revenue of $291 million shot up 60% $182.4 million a year ago.

Analysts had expected 25 cents and $266.5 million, respectively. The company, which laid out several cost-cutting measures in light of the coronavirus last week, said those moves saved $4 million in costs.

The company is also suspending its $500 million share buyback program. WWE bouts have provided TV networks with 52-week-a-year programming that delivers

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