penn entertainment inc followed up its announcement of a deal with espn with a secondquarter report in which profit and revenue rose above expectations as strength in its food beverage and hotel business offset some weakness in gaming the onlinesportsbetting and gaming facilities company’s stock penn soared 163 toward a threemonth high in premarket trading wednesday on the back of the espnbranding deal and the sale of its barstool sports stake that puts it on track for the best oneday performance since it jumped 181 on july 15 2020 the company reported early wednesday secondquarter net income that more than doubled to 784 million or 48 cents a share from 261 million or 15 cents a share in the same period a year ago that beat the factset consensus for earnings per share of 42 cents revenue grew 29 to 1675 billion above the factset consensus of 1665 billion gaming revenue fell 25 to 129 billion while food beverage hotel and other revenue jumped 268 to 3820 million “the company experienced stable property level performance this quarter with each month showing sequential improvement” said chief executive jay snowden “additionally we are excited to have successfully relaunched our sportsbook app which features major product improvements that significantly upgrade the user experience including streamlined navigation faster load times expanded wagering markets enhanced promotions and deeper media integrations” the company said late tuesday that it divested 100 of its stake in barstool sports and said its current barstool sportsbook will be rebranded as espn bet in the fall of 2023 the stock has lost 164 year to date through tuesday while the sp 500 index spx has advanced 172