-

WWE announces its Q1 2017 financial results

WWE today announced financial results for its first quarter ended March 31, 2017. For the quarter, the Company reported Net income of $0.9 million, or $0.01 per share, as compared to $13.9 million, or $0.18 per share, in the prior year quarter. Operating income was $4.0 million as compared to $22.0 million in the prior year quarter.

“We are pleased with the continued growth of WWE Network, which is a critical building block of our content strategy,” said WWE Chairman & CEO Vince McMahon. “The recent production of WrestleMania set records for network viewership as well as digital and social engagement. As we leverage continuing innovation to extend our reach in India, China and around the world, we are confident that the enduring and increasing global power of our brands will provide a solid foundation for long-term growth.”

George Barrios, Chief Strategy & Financial Officer, added, “During the first quarter, increases in key operating metrics, including event attendance, network subscribers and global content consumption, supported strong 10% growth in revenue. As anticipated, our earnings reflected the timing of certain expenses, a significant portion of which are expected to reverse over the coming months. As we continue to focus on producing engaging content across all platforms, we remain on track to achieve our 2017 financial objectives with record revenue, record Adjusted OIBDA results, and record subscriber levels.”

You can read the full press release at http://corporate.wwe.com/news/company-news/2017/05-04-2017.

Colin Vassallohttps://www.wrestling-online.com
Colin Vassallo has been editor of Wrestling-Online since 1996. He is born and raised in Malta, follows professional wrestling and MMA, loves to travel, and is a big Apple fan!

Stories you might also likeRELATED
Recommended to you

LATEST NEWS

Impact rating for 05/06/2021

The May 6 episode of Impact Wrestling on AXS TV did a total of 123,000 viewers, up 3,000 viewers...

The Godfather on Stone Cold Steve Austin’s Broken Skull Sessions

WWE Hall of Famer Charles Wright, better known as The Godfather, revealed on his Instagram that he has recorded...

Coronavirus outbreak hits New Japan Pro Wrestling roster

A coronavirus outbreak within New Japan Pro Wrestling has resulted in seven positive results among its roster.The positive tests...
spot_img