by Colin Vassallo | 01/08/2013 12:04 PM
WWE today announced announced financial results for its second quarter ended June 30, 2013. Revenues increased $10.7 million or 8%, to $152.3 million from $141.6 million in the prior year quarter. Operating income, however, declined to $8.8 million as compared to $19.6 million in the prior year. The drop in income was due to increased staff expenses to support future initiatives.
“In the second quarter, we continued to make investments in both staffing and talent to support our long-term growth objectives. These initiatives, including the recent opening of a world-class performance training facility, and the highest grossing WrestleMania in our Company’s history, demonstrate our commitment to develop our talent, build our brands, and provide a solid foundation for future growth,” stated Vince McMahon, Chairman and Chief Executive Officer. “We continue to believe that these investments will enhance our ability to create new programs and to distribute all of our content in a way that optimizes its value, through the renewal of key television contracts and the potential launch of a WWE network.”
You can read the full press release at here.
Source URL: http://www.wrestling-online.com/wwe/wwe-announces-financial-results-for-2013-q2/
Copyright ©2014 Wrestling-Online.com