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WWE Reports Record Revenue for Q2 2018 Financial Results

WWE_LogoWWE reported financial results for its second quarter, which ended June 30, 2018.

Highlights include a revenue increase of 31 percent to $281.6 million, which was the highest quarterly revenue in WWE history, due to increased monetization of media content. Operating income nearly doubled to $21.2 million from $10.7 million in the quarter in the prior year.

Adjusted OIBDA increased 79 percent to $43.5 million, increasing four percent in the prior year quarter. Net Income increased to $10.0 million as compared to $5.1 million in the prior year quarter.

WWE also completed agreements with USA Network and Fox Sports, effective October 1, 2019, which increase the average annual value of WWE’s U.S. distribution to 3.6 times that of the prior deal with NBCU. WWE Network average paid subscribers increased 10 percent to 1.80 million paid subscribers, consistent with the company’s guidance.

Digital engagement continued to grow through the first six months of 2018 with video views up 58 percent to 14.4 billion and hours consumed up 71 percent to 509 million across digital and social media platforms.

For the six months ended June 30, 2018, Revenues increased 16 percent to $469.3 million. Operating income increased to $43.0 million from $14.7 million, and Adjusted OIBDA increased to $78.7 million from $49.5 million. Net income increased to $24.8 million ($0.29 per diluted share) from $6.0 million ($0.08 per diluted share) in the prior year period.

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