WWE reports Q2 2016 financial results

WWE HQ
 

WWE announced its Q2 2016 financial results today, with the company reporting a Net income of $0.8 million, or $0.01 per share, as compared to Net income of $5.1 million, or $0.07 per share, in the prior year quarter. Revenue increased 32% to a record $199.0 million as WWE’s Live Event and Network segments achieved their highest quarterly revenue in company history

“I continue to be pleased with the execution of our strategy to optimize the long-term value of our content,” stated Vince McMahon, WWE Chairman and Chief Executive Officer. “Progress on this objective is evidenced by the continued year-over-year growth of WWE Network, the transition of SmackDown to a live format every week and the completion of our first exclusive content agreement in China.”

George Barrios, WWE Chief Strategy & Financial Officer, added “We achieved a 25% increase in average paid subscribers to WWE Network and generated earnings that were in line with our guidance. Over the past 12 months we delivered record revenue of $703 million. Additionally, for the first half of 2016, we delivered revenue growth of 13% from the prior year period and our digital video views increased by more than 100% to nearly 8 billion and our social media engagements increased 39% to 570 million.”

The full press release can be read at http://corporate.wwe.com/news/company-news/2016/28-07-2016.