WWE today announced financial results for its first quarter 2016. For the quarter, the Company reported Net income of $13.9 million as compared to Net income of $9.8 million in the prior year quarter.
“Our strong performance in the first quarter reflected the successful execution of our content strategy,” said WWE Chairman & CEO Vince McMahon. “The sustained year-over-year growth of WWE Network, the global consumption of our video content across all platforms, and the recent record breaking attraction of WrestleMania demonstrate the increasing strength of our brands. We believe we can continue to leverage these strengths to drive long-term growth.”
George Barrios, Chief Strategy & Financial Officer, added “Our earnings growth was driven primarily by the increased monetization of our network and television content as well as higher licensing revenue from our franchise video game. Over the next year, we will continue to focus on producing engaging content across all platforms, investing in emerging markets, and deploying technology across the enterprise to drive our long-term growth.”
To view the full press release go to http://www.snl.com/irweblinkx/file.aspx?iid=4121687&fid=1500085235.