By Jason Powell, Prowrestling.net Editor (@prowrestlingnet)
WWE revealed its fourth quarter and year-end financial results for 2017 on Thursday. The company reported $4.8 million net income compared to $8 million net income in the fourth quarter of 2016. Operating income increased to $27.0 million from operating income of $13.9 million.
“In 2017, WWE achieved record financial results, generating the highest level of revenue and Adjusted OIBDA in the Company’s history” Vince McMahon stated in a press release. “Our operating metrics demonstrate the strength of our content and brands worldwide, which positions us well to achieve our long-term objectives. We will continue to focus on creating compelling content for multiple platforms, leveraging data analytics and capitalizing on international opportunities to drive our continued growth.
WWE CFO George Barrios added: “We achieved record revenue that exceeded $800 million, record Adjusted OIBDA that was within the range of our guidance, and record subscriber levels. As we continue to drive WWE’s digital and direct-to-consumer transformation while optimizing the monetization of our long-form content, we expect to balance 2018 OIBDA growth with investment in strategic areas, maximizing our long-term opportunities and shareholder value.” Read the full report at Corporate.wwe.com.
Powell’s POV: McMahon, Barrios, and WWE Chief Revenue and Marketing Officer Michelle Wilson will address the third quarter numbers in a conference call this morning at 10:00 a.m. CT. Join me for live report on the conference call.
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