WWE was able to beat the estimates in their earnings report. Let’s take a closer look.
Vince McMahon’s company beat estimates of their earnings report. Their target was 28 cents per share. They hit 42 as Wall Street lowered their target.
WWE boasted a 60% increase for the 1st quarter of 2020 from the previous year. They had an operating income of $53.3 million compared to losing $6.8 in 2019.
WWE Network averaged 1.46 million paid subscribers as well and the company celebrated a multi-year distribution deal with Sony Pictures Network in India as well as DAZN in Germany.
Digital video views were up 25% to 9.6 billion. Hours consumed watching that content increased 15% to 344 million across all of the company’s digital platforms.