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WWE Q1 Financials: Vince McMahon Comments on Company Growth

May 10, 2016 | Posted by Larry Csonka
WWE Vince McMahon’s Vince McMahon WWE Vince McMahon’s WWE Image Credit: WWE

– WWE announced their financial results for its first quarter 2016. For the quarter, the Company reported Net income of $13.9 million, or $0.18 per share, as compared to Net income of $9.8 million, or $0.13 per share, in the prior year quarter. Here are some fo the highlights from the quarter, and comments from Vince McMahon…

* Revenue increased 13% on a pro-forma basis to $171.1 from $151.3 million in the prior year quarter, excluding the timing impact of WrestleMania (which occurred in Q2 2016 vs. Q1 2015)

* OIBDA increased 31% to $27.6 million from the prior year quarter (29% on a pro-forma basis)

* WWE Network averaged 1.29 million paid subscribers over the first quarter 2016, which represented a 39% increase from the first quarter 2015, and reached 1.47 million total subscribers at quarter-end

* WWE’s YouTube channel reached 11 million subscribers and achieved Diamond Play Button status joining Taylor Swift and Justin Bieber; WWE content garnered 10 billion YouTube views over the last 12 months

* Announced new series spin-off, Total Bellas, to debut on E! in Fall 2016 along with the sixth season of Total Divas. Continued to develop exciting new content for WWE Network, including Camp WWE (May), Swerved Season 2 (June) and Holy Foley! (August)

Vince McMahon “Our strong performance in the first quarter reflected the successful execution of our content strategy. 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.”

article topics :

Vince McMahon, WWE, Larry Csonka