Earnings: WWE Q1 Digital Revs Up 15 Percent; Total Revs Up Big On Event Timing
This story was written by Joseph Weisenthal.
World Wrestling Entertainment reported revenue of $162.6 million, up big from $107.4 million in the year-ago quarter. However the company benefited from the timing of its Wrestlemania event, which didn't happen until Q2 last year, which added $31.3 million in the quarterlast year the event brought in $31.4 million. Digital revenue grew 15 percent to $8.1 million, so still a rather small portion of the total pie. Of the digital business, media revenue from WWE.com was $4.5 million from $2.8 million, while e-commerce revenue slipped slightly. Net income was up 29 percent to $19.5 million ($.27 per share) from $15.1 million ($.21 per share), though again, the event timing affects the comparability.
By Joseph Weisenthal