WWE released their third quarter financial results earlier today and the results fell short of Wall Street expectations, causing the stock to plummet to $74.94 after the investment call before rebounding to $75.68 at the end of the business day. Here are additional revenue highlights:
- WWE announced the Network subscriber count at 1.615 million – up 9% year-over-year – broken down to 1.186 million in North America and 429,000 everywhere else
- WWE Network revenues meanwhile were only up 2% year-over-year, meaning people were paying less likely due to discounts and free trials
- Overall revenue was $188.4 million (short of analysts’ predictions of $202 million) and profits were $33.6 million comapred to $186 million and $21.8 million last year
- Operating income was down from $33.9 million to $18.1 million due to increased spending and expenses
- Live event revenue declined to $26.7 million and North American attendance averaged 4,500 – the lowest in many years (McMahon said he considers house show attendance as the ‘barometer’ of WWE’s performance and that he knows what’s “wrong” and how to fix it.
All you financial types can read their full report HERE.