By Jason Powell, Prowrestling.net Editor (@prowrestlingnet)
WWE revealed its 2018 second quarter financial results on Thursday. The company reported $10 million net income compared to $5.1 million net income in the second quarter of 2017.
“We’re pleased with our continued success in increasing the monetization of WWE content globally,” Vince McMahon said in a press release. “This success is evidenced by the completion of our new U.S. distribution agreements with USA Network and Fox Sports, the staging of another record-breaking WrestleMania, and the development of a 10-year strategic partnership with the Saudi General Sports Authority.”
George Barrios, Co-President, added: “During the second quarter, we generated a 79% increase in Adjusted OIBDA. We are raising our 2018 Adjusted OIBDA target to a range of $160 million to $170 million, which would be an all-time record.4 By executing our strategy and engaging our passionate global fan base, we can continue to deepen the moat around our business. We believe this will enable us to drive long-term growth and shareholder value.” Read the full report at Corporate.wwe.com.
Powell’s POV: WWE is touting record revenue of $281.6 million. Vince McMahon and Co-Presidents George Barrios and Michelle Wilson will address the second quarter numbers in a conference call this morning at 10:00 a.m. CT. Check back at then for my live report on the conference call.