WWE reports Q3 2013 financial results
WWE today announced financial results for its third quarter ended September 30, 2013. Revenues increased $9.1 million or 9%, to $113.3 million from $104.2 million in the prior year quarter. Operating income decreased 36% to $3.2 million as compared to $5.0 million in the prior year quarter. Net income was $2.4 million, or $0.03 per share, as compared to $3.5 million, or $0.05 per share, in the prior year quarter.
“During the third quarter, our achievements were highlighted by the production and monetization of new content, including the original series, Total Divas, the expansion of pay-per-view distribution on the Sony PlayStation 3 platform, and the formation of new partnerships with blue-chip sponsors such as General Mills and Kraft,” stated Vince McMahon, Chairman and Chief Executive Officer.
“These accomplishments reflect the strength of our brands, including a national television audience that exceeds the annual reach of most other sports and entertainment programs. This strength provides a solid foundation for the renegotiation of our TV contracts and the potential launch of a WWE network. Based on our ability to create powerful, entertaining content and to expand distribution, we strongly believe that we are poised to transform our business.”
You can read the full press release in PDF format here.