WWE Releases 2018 Q1 Financials, Vince McMahon Comments

– WWE and released their 2018 Q1 financials this morning. Here is a brief breakdown, including comments from Vince McMahon.

* Revenues reached $187.7 million, which was on-par with Q1 2017 (increasing 5% on a comparable year-over basis excluding the impact of ASC Topic 606 in Q1 2018)

* 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 subscribers3 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 platforms

“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. We will continue to focus on broadening our global audience across multiple platforms, providing the basis for significant growth.”