WWE announces Q2 2017 financial results

July 27, 2017

The WWE beat profit forecasts as it announced its Q2 (ending June 30, 2017) 2017 results on Thursday.  It announced that revenue increased to a record $214.6 million.  The WWE Network average more than 1.63 million average paid subscribers over the second quarter.

WWE stock was up slightly in after hours trading to $21.94.  The company reported net income of $5.1 million or $0.06 per diluted share as compared to $0.8 million or $0.01 per share in 2016.

The WWE’s shares have climbed 18 percent since the start of 2017.  The revenue for Q2 2016 was $199 million.

The increase in revenue was driven by the monetization of video content across the Company’s Television, Network and Digital Media business segments according to the Company.  Television rights fees appeared to be the main revenue driver in this segment.

As for the network, the subscribers are up from year to year with last year subscribers at 1,560,000.  As of the end of 2016, there were 1,473,000 subscribers.  However, the increase in subscriptions changes when contemplating the actual paid subscriber base.  At the end of Q2 there were 1,568,000 subscribers versus 1,511,000 subscribers at the end of Q2 in 2016.

It also announced that WrestleMania this past April broke the attendance record for the Orlando Citrus Bowl with 75,245 fans and reached 1.95 million global households on the WWE Network.

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