WWE issued the following:

07/25/2019

Second Quarter 2019 Highlights

• Revenues were $268.9 million as compared to $281.6 million in the prior year quarter
• Operating income was $17.1 million; Adjusted OIBDA¹ was $34.6 million, which exceeded the Company’s guidance
• Announced content distribution deals with BT Sport in the U.K., Fox Sports in Latin America and PP Sports in China, providing strong platforms for reaching WWE audiences
• WWE Network average paid subscribers² were 1.69 million paid subscribers, consistent with the Company’s guidance
• Digital video views increased 17% to 9.0 billion; hours consumed increased 22% to 324 million hours across digital platforms; and social media followers increased 10% to over 1.02 billion³

WWE Network

• The Company initiated the transition of WWE Network to a new platform on July 24, which will provide users with a better experience, a more intuitive interface, and enhanced search functionality
• The new platform enables the introduction of new features and experiences over time, including the addition of free and premium tiers as well as the localization of content in multiple languages
• Produced more than 90 hours of original network content, including live in-ring programs and talent documentaries, such as The Shield’s Final Chapter and WWE 24: The Year of Ronda Rousey, respectively

STAMFORD, Conn.–(BUSINESS WIRE)– WWE (NYSE: WWE) today announced financial results for its second quarter ended June 30, 2019.

“During the quarter, we made progress on key strategic initiatives,” stated Vince McMahon, Chairman and Chief Executive Officer. “We completed content distribution agreements in key international markets, prepared for the next phase of our WWE Network service, and achieved steady improvement in engagement metrics. As indicated previously, we remain excited about the future, particularly with our debut on Fox in October.”

George Barrios, Co-President, added “In the quarter, our earnings exceeded guidance, however we anticipate a portion of this to reverse and we continue to target full-year Adjusted OIBDA of at least $200 million. The guidance presupposes the staging of a second large scale international event and the completion of a media rights deal in the MENA region. As we optimize near-term results, we will continue to focus on content creation, localization and digitization, including the evolution of our direct-to-consumer network, to drive long-term growth.”

Read the full report here: https://corporate.wwe.com/investors/news/press-releases/2019/07-25-2019-133118093