![]() The company held 59 ticketed live events in the reported quarter consisting of 55 events in North America and four events in international markets. Higher ticket sales from WWE’s marquee annual event, WrestleMania, also contributed to the segment’s revenues. The upside can be attributed to higher ticket sales as the company returned to staging ticketed live events. Live Events: Revenues from Live Events came in at $41 million, up meaningfully from $9.2 million in the year-ago quarter. Other media revenues decreased to $9.7 million from $11.9 million in the prior-year period. Advertising and sponsorship revenues declined to $17.9 million from $18.7 million in the year-ago period. Network revenues came in at $63.7 million, up from the $61.5 million reported in the year-ago quarter. These were partly offset by the timing of the delivery of third-party original programming.Ĭore content rights fees increased to $151.8 million from $141.8 million in the prior-year period. The year-over-year increase can be attributed to a jump in domestic and international media rights fees associated with flagship programs and premium live events. Media Division: Revenues in the Media division went up 4% to $243.1 million. price-consensus-eps-surprise-chart | World Wrestling Entertainment, Inc. ![]() Again, the adjusted OIBDA margin expanded to 28% from the 26% reported in the prior-year quarter. We note that the operating income margin increased to 21% from 17% in the year-ago quarter.Īdjusted OIBDA came in at $91.5 million, up 34% year over year. WWE’s operating income of $69.3 million jumped 50% year over year, buoyed by higher revenues but partly offset by increased operating expenses due to the return to live event touring and increased production costs related to premium live events. A jump in media rights fees related to flagship programs and premium live events also contributed to the top line. A rise in the sales of licensed products, including video games and trading cards, also supported revenue growth. WWE’s revenues of $328.2 million came in line with the consensus estimate and surged 24% year over year, driven primarily by higher ticket sales at live events. The quarterly earnings increased significantly from the 42 cents a share reported in the prior-year quarter. This Stamford, CT-based company reported second-quarter 2022 adjusted earnings of 59 cents a share, which surpassed the Zacks Consensus Estimate of 56 cents. The company also launched a new, enhanced digital platform for e-commerce and licensed merchandise in connection with its long-term partnership with Fanatics. These events coupled with solid ratings for flagship programs, Raw and SmackDown continued to expand brand reach and enhance content value. Premium live events, such as WrestleMania Backlash, Hell in a Cell, Money in the Bank and SummerSlam, witnessed remarkable viewership. The company raised its full-year adjusted OIBDA view. The quarterly performance gained from the return to a full live event schedule, the stellar consumer products business and the monetization of content. ![]() Impressively, both revenues and earnings grew sharply from the year-ago period. ( WWE Quick Quote WWE - Free Report) posted second-quarter 2022 results, wherein the top line met the Zacks Consensus Estimate, while the bottom line beat the same.
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