World Wrestling Entertainment (WWE) Misses Q3 EPS by 3c
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World Wrestling Entertainment (NYSE: WWE) reported Q3 EPS of $0.14, $0.03 worse than the analyst estimate of $0.17. Revenue for the quarter came in at $164.2 million versus the consensus estimate of $175.04 million.
- Q3 2016 OIBDA of $24.5 million and Operating income of $18.3 million were in line with the Company’s guidance
- WWE Network subscribers increased 24% from the third quarter 2015 to 1.46 million average paid subscribers over the third quarter 2016, consistent with the Company’s guidance
- The Company outlines management expectations for 2017, which include continued WWE Network subscriber growth, record revenue, targeted Adjusted OIBDA of $100 million and Operating income of $70 million
“During the quarter, we continued to effectively execute our content strategy, which has resulted in record revenues to-date in 2016 and increased consumption across our media platforms,” said WWE Chairman & CEO Vince McMahon. “This growth illustrates meaningful progress against our long-term strategic plan and provides the foundation for achieving our 2017 financial objectives.”
George Barrios, WWE Chief Strategy & Financial Officer, stated “We achieved a 24% increase in average paid subscribers to WWE Network and generated profits that were within the range of our guidance. We expect continued year-over-year growth in subscribers and profits for the fourth quarter resulting in strong full year performance that is in-line with our previous business outlook.”
For earnings history and earnings-related data on World Wrestling Entertainment (WWE) click here.
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