WWE released their third quarter financial report this morning. Below are the highlights and comments from Vince McMahon:
*Revenues reached $188.4 million for the third quarter 2018 and a record $657.7 million for the nine months ended September 30, 2018, representing 12% growth over the prior year period
*Operating income was $18.1 million. Adjusted OIBDA1 of $35.8 million exceeded the Company’s guidance
*Through the first nine months of 2018, digital engagement increased with video views up 61% to 22.9 billion and hours consumed up 81% to 842 million across digital and social media platforms
“During the quarter, we remained keenly focused on deepening engagement with our global fan base by delivering compelling original content across media platforms,” said Vince McMahon, WWE Chairman and Chief Executive Officer. “We believe that deepening engagement will enable us to take advantage of favorable global industry trends and drive long-term growth.”
George Barrios, Co-President, added “We continue to effectively execute our strategy and achieved Adjusted OIBDA that surpassed our public guidance. Our performance maintains our path to achieve record revenue, record Adjusted OIBDA and record subscribers for the full year 2018.”
You can view the full press release here. WWE will be holding a conference call later today to go over the financials in more detail. Fightful will provide coverage of call starting at 11 p.m. ET.
As previously noted, the press release also confirmed that WWE Crown Jewel will remain in Saudi Arabia.
