WWE reports Q1 2019 financial results
WWE today announced financial results for its first quarter ended March 31, 2019.
The not-so-stellar quarter had revenues of $182.4 million as compared to $187.7 million in the prior year quarter and an operating income loss of $6.8 million as compared to income of $21.8 million in the prior year quarter. Net Income reflected a loss of $8.4 million as compared to net income of $14.8 million.
“During the quarter, we continued to execute our strategy and achieved targeted financial results,” stated Vince McMahon, Chairman and Chief Executive Officer. “While engagement metrics over the past two quarters were impacted by Superstar absences, we believe they will improve as our talent return and we launch our new season following a successful WrestleMania. We remain excited about the future, particularly with our debut on Fox in October.”
George Barrios, Co-President, added “In the quarter, we delivered Adjusted OIBDA within the range of our public guidance and continue to target full-year record revenue of approximately $1 billion and record Adjusted OIBDA of at least $200 million. Our primary focus is to deliver record results while investing in our key priorities: content creation, localization and digitization.”
The full press release can be read here.