WWE revealed its 2016 fourth quarter financial results on Thursday and issued the following press release.
WWE (NYSE:WWE) today announced financial results for its fourth quarter and year ended December 31, 2016. For the quarter, the Company reported Net income of $8.0 million, or $0.10 per share, as compared to a Net loss of $1.2 million, or a $0.02 loss per share, in the prior year quarter. Operating income increased to $13.9 million from an Operating loss of $1.5 million. Excluding items affecting comparability, Adjusted OIBDA increased to $20.5 million from $11.1 million.
“During the past year, we continued to successfully execute our content strategy, which resulted in significant operational achievements and generated record revenue. We grew WWE Network to an average of more than 1.5 million subscribers, attracted record attendance of 101,763 fans at WrestleMania, and strengthened the global reach of our television programs, completing distribution deals in China, Australia, Germany and Spain, among other countries,” said WWE Chairman & CEO Vince McMahon. “The increased engagement with our brands across multiple platforms provides a foundation for achieving our 2017 and long-term financial objectives.”
Powell’s POV: McMahon and George Barrios will be co-hosting a conference call to discuss the fourth quarter earnings report today at 10:00 a.m. CT. I will provide live updates on the call, then Jake Barnett and I will discuss it this afternoon during the member exclusive Dot Net Weekly audio show.