Home Entertainment World Wrestling Entertainment 3Q Viewership Boosts Revenue — Earnings Review

World Wrestling Entertainment 3Q Viewership Boosts Revenue — Earnings Review

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World Wrestling Entertainment 3Q Viewership Boosts Revenue — Earnings Review

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World Wrestling Entertainment Inc. reported third-quarter earnings after the Wednesday market shut. Here’s what you should know:

NET INCOME: The Stamford, Conn., media and leisure firm reported web revenue of $41.7 million, or 49 cents a share, for the quarter ended Sept. 30. Analysts anticipated $42.2 million, or 50 cents a share, in response to FactSet.

SALES: WWE posted gross sales of $304.6 million, up 19% yr over yr and above analyst expectations of $283.1 million for the third quarter.

WHAT WE WATCHED

VIEWERSHIP: Pay-per-view matches proceed to spice up revenues from the at-home viewers, particularly following a licensing deal to increase the WWE Network to Peacock, the streaming platform of Comcast Corp.’s NBCUniversal unit. Media income was up 15% to 233 million, primarily by way of a lift in its flagship applications, Raw and SmackDown. The firm says every of its home premium reside occasions, together with SummerSlam, Extreme Rules and Money within the Bank, had been its most-viewed in historical past. It has inked a number of offers to develop the distribution of its content material internationally, together with in Africa, Australia and Europe.

CONSUMER PRODUCTS: Revenue from client merchandise elevated 45% yr over yr to $18.5 million within the third quarter.

LIVE EVENTS: WWE tickets for in-person occasions have confirmed to be scorching commodities in fiscal 2022 as followers purchase out seats at a historic clip. The firm stated income from reside occasions was up 26% from a yr earlier to $35.2 million, primarily as a consequence of a rise in worldwide ticket gross sales from some main stadium occasions. It staged 58 reside ticketed occasions within the newest quarter, up from 42 a yr earlier.

Write to Emon Reiser at emon.reiser@wsj.com

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