WWE is always raking in more money with big deals, and their latest quarterly earnings report gave them the perfect opportunity to boast a little bit. The company usually stacks their earnings report full of attractive news for stockholders, and this time was no different.
According to WWE’s second quarter of 2023 earnings report, the company celebrated a groundbreaking financial performance in the latest quarter. The company’s revenue reached an all-time high of $410.3 million, boasting a remarkable 25% increase and setting a new quarterly record.
Revenue was $410.3 million, an increase of 25% and a quarterly record; Operating income was $87.3 million, an increase of 26%; and Adjusted OIBDA1 was $140.7 million, an increase of 54% and a quarterly record
At the same time, viewership for WWE’s flagship programs, SmackDown and Raw, experienced substantial growth, rising by 26% and 19%. They were able to outperform both broadcast and cable television, which witnessed a 12% decline.
The success and big numbers they can brag about did not stop there. Each of WWE’s premium live events, including WrestleMania, Backlash, and Night of Champions, established global unique viewership records with year-over-year increases of 29%, 34%, and 45%, respectively. Moreover, WWE’s Live Events revenue skyrocketed by 51% over the prior year, indicative of the continued strong demand for both domestic and international events. The North American Live Event average attendance achieved an impressive 45% increase, setting yet another quarterly record with 9,870 attendees.
In July, WWE’s event Money in the Bank took place at The O2 in London, achieving the title of WWE’s highest-grossing arena event in company history. Money in the Bank shattered records not only in viewership but also in sponsorship revenue, merchandise revenue, and social media activity.
These achievements are more proof of WWE’s popularity and its ability to captivate audiences worldwide. The company’s dedication to delivering top-notch entertainment experiences has undoubtedly paid off, reflecting strong financial growth and continued success.
We will have full coverage of WWE’s earnings report, right here at Ringside News. Vince McMahon’s company loves talking about their big numbers, and there are certainly enough to discuss right now as business continues in a booming direction.
What’s your take on this earnings report? Sound off in the comments to let us know what you think about the situation.