Stamford-based World Wrestling Entertainment had a second-quarter net income of $6.3 million, down from $19.9 million earned the same three-month period last year.
Per share, WWE earned 8 cents vs. 27 cents a year ago.
The TV and live-action entertainer said its 2010 results reflected the company’s main pay-per-view attraction “Wrestlemania” occurred in the first quarter this year, rather than the second quarter of 2009.
If Wrestlemania is excluded, then WWE’s 2009 second-quarter net was $10.2 million, or 14 cents a share.
Despite the second-quarter dropoff, WWE’s net income for the first six months of the year is relatively the same compared to last year: $31 million for the first and second quarters 2010 and $30.2 million for the first half of 2009.
In addition to Wrestlemania, WWE Chairman and CEO Vince McMahon attributed the second-quarter drop to changes in the company’s wrestler roster and costs related to the Icelandic volcano. Connecticut U.S. senate Republican candidate Linda McMahon is WWE’s former CEO.
“We view some of these factors as temporary and, looking ahead, we remain confident in our ability to address these challenges by producing compelling content and cultivating consumer demand,” Vince McMahon said in a statement. “On a positive note, the second quarter reflected improved results in our Home Video business and our continued success in managing our expenses.”
At 11 a.m., WWE was down $1.37, or 8.3 percent, at $15.13.
