Kemo
05-04-2018, 12:51 AM
WWE sent out a press release on Wednesday touting the company’s strong performance for the first fiscal quarter of 2018. You can read the full announcement at Corporate.WWE.com (PDF (http://corporate.wwe.com/~/media/Files/W/WWE/press-releases/2018/1q18-earnings-pr.pdf)).
Wall Street is loving the news. As of this writing, WWE stock is up 3.47% for the day. At a $41.16 per share, the company is valued at approximately $3.182 billion.
Here are some key takeaways from the quarter and WrestleMania 34:
First Quarter 2018 Highlights
Revenues reached $187.7 million, which was on-par with Q1 2017 (increasing 5% on a comparable year-over basis the impact of ASC Topic 606 in Q1 2018)1
Operating income was $21.8 million ($29.0 million on a comparable basis) as compared to $4.0 million in the prior year quarter
Adjusted OIBDA2 increased 40% to $35.2 million (increasing 68% to $42.4 million on a comparable basis)
WWE Network average paid subscribers increased 5% to 1.56 million paid subscribers, consistent with the Company’s guidance
Digital video views increased 56% to 6.7 billion and hours consumed increased 69% to 243 million across digital and social media platforms4
Selected WrestleMania Highlights
WrestleMania (April 8, 2018) broke the record for the Mercedes-Benz Superdome’s highest grossing entertainment event at $14.1 million, attracting 78,133 fans
WrestleMania hit a record 2.12 million global households on WWE Network alone, making it the most-watched WrestleMania in history
WWE Network subscribers viewed 25.2 million hours during WrestleMania week or 14 hours per subscriber during the week. This compares to 22.5 million hours last year, a 12% year-over-year increase
During WrestleMania week, 13.9 million hours were consumed on digital and social media platforms, up 27% from the prior year; April 9 was WWE’s most viewed day ever on YouTube with more than 50 million views
Vince McMahon quoted in the announcement. McMahon touted the strong performance of the first quarter and WrestleMania while giving an optimistic outlook for the months ahead.
“We’re pleased with our continued success in creating and monetizing our content as evidenced by another record-breaking WrestleMania, which set new highs for network subscribers and viewership,” said Vince McMahon, WWE Chairman and Chief Executive Officer. “We will continue to focus on broadening our global audience across multiple platforms, providing the basis for significant growth.”
Wall Street is loving the news. As of this writing, WWE stock is up 3.47% for the day. At a $41.16 per share, the company is valued at approximately $3.182 billion.
Here are some key takeaways from the quarter and WrestleMania 34:
First Quarter 2018 Highlights
Revenues reached $187.7 million, which was on-par with Q1 2017 (increasing 5% on a comparable year-over basis the impact of ASC Topic 606 in Q1 2018)1
Operating income was $21.8 million ($29.0 million on a comparable basis) as compared to $4.0 million in the prior year quarter
Adjusted OIBDA2 increased 40% to $35.2 million (increasing 68% to $42.4 million on a comparable basis)
WWE Network average paid subscribers increased 5% to 1.56 million paid subscribers, consistent with the Company’s guidance
Digital video views increased 56% to 6.7 billion and hours consumed increased 69% to 243 million across digital and social media platforms4
Selected WrestleMania Highlights
WrestleMania (April 8, 2018) broke the record for the Mercedes-Benz Superdome’s highest grossing entertainment event at $14.1 million, attracting 78,133 fans
WrestleMania hit a record 2.12 million global households on WWE Network alone, making it the most-watched WrestleMania in history
WWE Network subscribers viewed 25.2 million hours during WrestleMania week or 14 hours per subscriber during the week. This compares to 22.5 million hours last year, a 12% year-over-year increase
During WrestleMania week, 13.9 million hours were consumed on digital and social media platforms, up 27% from the prior year; April 9 was WWE’s most viewed day ever on YouTube with more than 50 million views
Vince McMahon quoted in the announcement. McMahon touted the strong performance of the first quarter and WrestleMania while giving an optimistic outlook for the months ahead.
“We’re pleased with our continued success in creating and monetizing our content as evidenced by another record-breaking WrestleMania, which set new highs for network subscribers and viewership,” said Vince McMahon, WWE Chairman and Chief Executive Officer. “We will continue to focus on broadening our global audience across multiple platforms, providing the basis for significant growth.”