WWE Reports Strong First Quarter Financial Results For 2018, Vince McMahon Happy With Numbers

vince-mcmahon

WWE released its first quarter business report for the fiscal year 2018. The report lists $187.7 million in total revenue and $14.8 million in profits, as compared to $188.4 million in revenue and $900,000 in profits for the same quarter in 2017.

The revenue came up short of Wall Street’s expected $194.3 million, but profits were way ahead of expectations of $10 million to $11 million. Although WWE’s stock is up nearly 80% in the past year, a mixed first quarter had some investors tap out on Thursday morning. WWE’s stock now runs for $41.39 per share, as of this writing.

WWE also reported 1.56 million paid WWE Network subscribers, up 5% and ahead of its previous count of 1.53 million. The company also reported a 56% increase in digital video views as compared to the same quarter last year. WWE has a projected 1.77 million paid Network subscribers on average for the second quarter and aims OIBDA for 2018 to hit $150 million, which would make 2018 a record-breaking year for the biggest wrestling promotion in the world.

[adace-ad id=”3395″]

WrestleMania 34 was the most watched event pulling in 2.12 million global households on the WWE Network. It is also reported that subscribers watched a total of 25.2 million hours of content on the WWE Network during WrestleMania weekend, up 12% from last year’s WrestleMania 33. WWE content also made a record 50 million+ YouTube views on April 9, 2018.

“We’re pleased with our continued success in creating and monetizing our content as evidenced by another record-breaking WrestleMania, which set new highs for network subscribers and viewership,” CEO Vince McMahon said in a statement.

WrestleMania 34 also broke the record for the Mercedes-Benz Superdome’s highest grossing entertainment event at $14.1 million, with an attendance of 78,133.