WWE today announced financial results for its second quarter 2017. For the quarter, the Company reported Net income of $5.1 million, or $0.06 per diluted share, as compared to Net Income of $0.8 million, or $0.01 per diluted share, in the prior year quarter. Operating income increased to $10.7 million from $1.5 million. Excluding items affecting comparability, Adjusted OIBDA1 increased to $18.1 million from $7.5 million.
“We are pleased with our ongoing efforts to execute our multi-platform content strategy as evidenced by the continued year-over-year growth of WWE Network, the increased production of localized programming across platforms and markets, and the attraction of new sponsors,” stated Vince McMahon, WWE Chairman and Chief Executive Officer.
George Barrios, WWE Chief Strategy & Financial Officer, added “We achieved record revenues in our Network and Live event segments, continued to grow WWE Network’s subscriber base, and generated results that were essentially in line with our guidance. As we continue to drive WWE’s digital and direct-to-consumer transformation, we remain on track to achieve our 2017 financial objectives with record revenue, record Adjusted OIBDA results, and record subscriber levels.”
The full press release can be read at corporate.wwe.com.