WWE News: Vince McMahon comments on third quarter financial numbers


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WWE News: Vince McMahon comments on third quarter financial numbers
Nov 1, 2012 - 08:35 AM


WWE released its third quarter financial report on Thursday. The company reported revenues totaling $104.2 million compared to $108.5 million in the same quarter last year. Operating profit was $5.0 million compared to $10.6 million in the prior year quarter.

"In the third quarter, we continued to make important progress on our key strategic initiatives, expanding our content and distribution and enhancing our brand strength,” stated Vince McMahon. "The production and licensing of new programs, including a third hour of Raw, the WWE Main Event™ and WWE Saturday Morning Slam™, as well as the development of online distribution on Hulu Plus exemplify our achievement of these goals.

"The performance of our new programs, which have attracted an average audience 14 percent to 50 percent higher than the viewership of the programs they replaced, demonstrate our ability to build consumer interest, which forms the foundation of our proposed WWE Network." You can read the full report at 4-traders.com/WORLD-WRESTLING-ENTERTAIN-14926/news/World-Wrestling-Entertainment-Inc-WWE%AE-Reports-2012-Third-Quarter-Results-15450162/.

Powell's POV: The quarter included $2.1 million in network related operating expenses. The press release also noted a $4.7 million reduction from outside North America. Vince McMahon will be hosting a conference call this morning to discuss the financial report. Join me around 10:00 a.m. for coverage of the call.

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