WWE releases third quarter financial results

WWE has released its third quarter financial results. The company reported revenues of $108.5 million, down from $109.6 million from the same quarter last year. Operating income is $15.9 million compared to $20.3 million in the prior year quarter.

"In the third quarter, our results reflected the Company’s continued focus on improving business results in a difficult environment," Vince McMahon stated in the press release. "Despite the challenging economic headwinds, both domestically and abroad, we generated increased profits across a majority of our businesses, with the main exception being our film business which we continue to monitor and refine to improve future performance.

"We believe the sluggish economy and our ongoing talent transition were important factors that affected the results of our other businesses. Based on our history of developing talent and creating content with broad appeal, we are confident we can address our creative challenges.

"Further, by taking advantage of our strategic opportunities, including the anticipated 2012 launch of a WWE network, we can achieve meaningful growth." To read the official press release, visit Businesswire.com/news/home/20111103005622/en/WWE®-Reports-2011-Quarter-Results.

Powell's POV: The WWE Network hype continues. I'm curious to see how much he reveals about the network plans during the conference call he'll be hosting this morning. We'll have additional notes regarding the financial report throughout the morning.