WWE Releases Its First Quarter 2017 Results

The corporate office of WWE has released the results of the first quarter of the calendar year. Below are some of the items of note:

Revenue increased 10% to $188.4 from $171.1 million in the prior year quarter
Operating income was $4.0 millionand Adjusted OIBDA¹ was $18.6 million
WWE Network averaged 1.49 million paid subscribers over the first quarter 2017, which represented a 16% increase from the first quarter 2016
WWE Network continued to super-serve its global fans with live, in-ring content by producing new episodes of its cruiserweight series, 205 Live, and holding a U.K.Championship Tournament, featuring local talent
Announced partnership with HBO Sports and the Bill Simmons Media Group to produce Andre the Giant, a documentary film examining the life of the WWE Legend
Completed multi-year agreement naming StubHub as the Company’s exclusive ticket resale marketplace for fans in the United States and Canada

In addition to providing highlights from WrestleMania, the company also projected towards the future:

Based on the performance of subscribers following WrestleMania, the Company is raising the low end of its projected range of subscribers for the second quarter. For the second quarter 2017, the Company projects average paid subscribers of at least 1.63 million. The Company also estimates second quarter 2017 Adjusted OIBDA of approximately $13 million to $17 million.²

WWE is unable to provide a reconciliation of second quarter guidance to GAAP measures as, at this time, WWE cannot accurately determine all of the adjustments that would be required.