Following a delay due to the Vince McMahon scandal, WWE is ready to announce its second quarter financial results.
WWE issued a press release today announcing that it will report its second quarter 2022 financial results this Tuesday (August 16). The report will be released before the stock market opens, with an investors conference call set to begin at 8:30 a.m. Eastern time.
On August 11, WWE submitted a filing notifying the SEC (Securities and Exchange Commission) that it would be late in reporting its second quarter financial results. The delay was because WWE uncovered two additional payments Vince McMahon agreed to make it 2007 and 2009. The payments were worth a combined $5 million, bringing the total amount of uncovered payments up to $19.6 million.
The Wall Street Journal reported in July that McMahon had agreed to pay more than $12 million to four different women over the past 16 years to "suppress allegations of sexual misconduct and infidelity."
WWE has determined that the payments should have been recorded in the company's financial statements. In addition to releasing its second quarter 2022 report, WWE is revising its 2019, 2020, and 2021 financial reports and its report for the first quarter of this year to account for the payments.
All of the payments were or will be paid by [Vince] McMahon personally."
McMahon announced his retirement from WWE on July 22. Tuesday morning's investors call will be the first of WWE's new era.