WWE Reports First-Quarter Financials

STAMFORD: Vince McMahon, chairman and CEO of World Wrestling Entertainment, hailed the company’s “significant growth” in the first quarter, with revenues up to $138.7 million and profit increasing to $24.7 million.

The company noted, however, the factors impacting comparability with the prior-year period, notably the timing of WrestleMania XXVI. Excluding those items, revenues were $109.9 million and profit $14.7 million.

“In the first quarter, we delivered significant growth in earnings and profitability, reaching our highest operating margin in our recent history,” stated McMahon. “WrestleMania XXVI attracted more than 70,000 fans and contributed profits of over $13 million for the second consecutive year. Looking ahead, our faith in the future is strengthened by the ongoing power of our brands, the strength of our partnerships and our ongoing focus on operating efficiency. We remain confident that we can achieve our targeted earnings growth and drive greater profits.”

Live and televised entertainment contributed $98.2 million, while consumer products generated $30.7 million, digital media $6.4 million and WWE Studios $3.4 million. The company’s North American revenues were $106.9 million. Internationally the company delivered gains across the board, with EMEA contributing $19 million, Asia Pacific $7.8 million and Latin America $5 million.