WWE’s quarterly formula get Wall Street majorly pumped
February 10, 2017 - WWE
Investors in WWE were as pumped as one of a superstars Thursday after a wrestling outfit reported a fourth-quarter income benefit of 17 percent, outstanding a 7-percent boost expected by analysts.
Meanwhile, a series of paid subscribers to a WWE Network — a over-the-top charity launched 3 years ago — climbed 14 percent during a fourth entertain to 1.41 million.
Earnings per share of 10 cents, adult from a detriment of 2 cents in a year-earlier quarter, also kick expectations of 9 cents.
WWE batch rose 8.7 percent on a sales warn to tighten during $20.96 per share.
WWE solidified a stock’s benefit during a late-morning benefit call by presaging a 25-percent strike in practiced benefit for 2017 — to a record $100 million.
Fourth-quarter income of $194. 9 million was adult from $166.2 million in a year-earlier entertain — a benefit driven by all 4 of WWE’s handling divisions.
“There is no one talent that creates this large circle keep on turning,” WWE arch Vince McMahon pronounced during a call.
Live Events, increased by a entertainment of 19 additional events during a quarter, led a approach with a 17.3-percent income increase.
The Media Division, that includes WWE’s OTT network and radio shows “Raw” and “SmackDown,” also posted an boost of 17.3 percent. But a income grant of $125 million accounted for scarcely two-thirds of a company’s total.
One of few misses in a entertain was a downturn in ratings for “Raw,” that might have been cannibalized by a pierce by“SmackDown” final Jul to a live promote that done it some-more appealing to wrestling fans.
McMahon didn’t seem too worried, however, job a trip “much like a NFL ratings.”