WPT Announces Q2 Results
As Season 8 of the WPT kicks off, WPT Enterprises Inc. has announced a set of positive Q2 results that beats consensus estimates from analysts.
WPT Enterprises Inc.'s earnings for the second quarter of 2009 beat analysts’ estimates after it announced a total profit of $370,000 for the quarter. In the latest release of its financial results, the World Poker Tour owner announced that its Q2 earnings are back in the black after recording a $3.3 million loss in the previous year.
Prior to this announcement, the consensus from analysts was that the company was going to post a net loss per share of $0.01 with revenues of $4.29 million. Instead, it posted net earnings per share (EPS) of $0.02, and revenues of $4.6 million.
This latest earnings announcement means that the company has shown a profit for two consecutive quarters. They announced a profit of $479,000 for Q1 2009. The back to back quarters of positive earnings is definitely a welcome sight to investors after a loss making 2008.
The highlights of their second quarter include:
- The company registered a profit and positive cash flow for Q2 2009.
- The company has registered a profit for 2 consecutive quarters in 2009.
- The High Definition broadcasts for WPT Season 8 has started production.
- 26 episodes of WPT Season 7 were produced and aired on the Fox Sports Network (FSN).
