World Wrestling Entertainment (WWE) Tops Q2 EPS by 9c

World Wrestling Entertainment (NYSE: WWE) reported Q2 EPS of $0.07, $0.09 better than the analyst estimate of ($0.02). Revenue for the quarter came in at $150.2 million versus the consensus estimate of $148.7 million.

OIBDA of $13.2 million increased $27.8 million from the prior year quarter.

“The performance of WWE Network demonstrates our ability to transform our legacy pay-per-view business into a global subscription business with high growth potential,” said WWE Chairman & CEO Vince McMahon. “We have made meaningful progress executing our key strategic initiatives, including the achievement of significant international growth and increased engagement across our digital and social media platforms.”

“Our strong earnings growth was driven primarily by the expansion of WWE Network subscribers, the escalation of our television rights fees as well as strong sales of our franchise video game. For the quarter, our OIBDA surpassed our expectations,” added George Barrios, Chief Strategy & Financial Officer. “The ramp-up of WWE Network subscribers, while exhibiting a seasonal pattern, continued to show strong year-over-year growth. Our success in developing WWE Network, maximizing our television rights fees and driving revenue growth from our global markets reinforces our long-term potential.”

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

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