World Wrestling Entertainment (WWE) Tops Q1 EPS by 8c; Offers Q2 Outlook

World Wrestling Entertainment (NYSE: WWE) reported Q1 EPS of $0.18, $0.08 better than the analyst estimate of $0.10. Revenue for the quarter came in at $171.1 million versus the consensus estimate of $170.63 million.

• WWE Network averaged 1.29 million paid subscribers over the first quarter 2016, which represented a 39% increase from the first quarter 2015, and reached 1.47 million total subscribers at quarter-end
• WWE’s YouTube channel reached 11 million subscribers and achieved Diamond Play Button status joining Taylor Swift and Justin Bieber; WWE content garnered 10 billion YouTube views over the last 12 months

Q2 2016 Business Outlook

For the second quarter 2016, the Company projects average paid subscribers of approximately 1.5 million. The Company also estimates second quarter 2016 Adjusted OIBDA of approximately $5 million to $9 million.1,2 This range represents an expected year-over-year decrease attributed to three primary factors: incremental strategic investments, the timing impact of WrestleMania production costs, and the timing of a lower effective royalty rate associated with the Company’s franchise video game. (The lower video game royalty rate derives from an increasing rate structure over the 2015 year as compared to a flat rate structure in 2016. For the full year, the Company expects the rate for 2016 will be comparable to the average effective rate for 2015).

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

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