WWE revealed its 2017 first quarter financial results on Tuesday. The company reported $0.9 million net income compared to $13.9 million net income in the first quarter of 2015. “We are pleased with the continued growth of WWE Network, which is a critical building block of our content strategy,” Vince McMahon stated in a press release.
“The recent production of WrestleMania set records for network viewership as well as digital and social engagement. As we leverage continuing innovation to extend our reach in India, China and around the world, we are confident that the enduring and increasing global power of our brands will provide a solid foundation for long-term growth.”
George Barrios, Chief Strategy & Financial Officer, added, “During the first quarter, increases in key operating metrics, including event attendance, network subscribers and global content consumption, supported strong 10% growth in revenue. As anticipated, our earnings reflected the timing of certain expenses, a significant portion of which are expected to reverse over the coming months. As we continue to focus on producing engaging content across all platforms, we remain on track to achieve our 2017 financial objectives with record revenue, record Adjusted OIBDA results, and record subscriber levels.” Read the full earnings report at Corporate.WWE.com.
Powell’s POV: There is not a new WWE Network number to report, as WWE released the latest number the day after WrestleMania. Vince McMahon and other members of senior management will address the financial report in a conference call this morning at 10:00 a.m. CT. Join me for live coverage of that call.