World Wrestling Entertainment (WWE) Tops Q1 EPS by 11c

World Wrestling Entertainment (NYSE: WWE) reported Q1 EPS of $0.13, $0.11 better than the analyst estimate of $0.02. Revenue for the quarter came in at $176.2 million versus the consensus estimate of $171.45 million.

“During the quarter, we generated record quarterly revenue and strong earnings growth, reflecting our strategy to realize greater value from our content across multiple platforms,” said WWE Chairman & CEO Vince McMahon. “We believe that we are on a path to significant growth as we continue to expand WWE Network and innovate faster than ever.”

“Our strong earnings growth was driven primarily by the escalation of our television rights fees and the expansion of WWE Network subscribers. For the quarter, our OIBDA surpassed our public guidance,” added George Barrios, Chief Strategy & Financial Officer. “WWE Network subscribers watched an estimated average of 53 hours of content per household over the quarter putting it among Netflix and the top cable and broadcast networks in terms of viewers per household. Additionally, WrestleMania 31 was viewed in more homes globally than ever before. Our ability to engage our global fan base reinforces our view that successful execution of our WWE Networkstrategy can generate meaningful economic returns.”

For earnings history and earnings-related data on World Wrestling Entertainment (WWE) click here.

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