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World Wrestling Entertainmentinc (WWE) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

World Wrestling Entertainmentinc

CIK: 1091907 Ticker: WWE

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FOR IMMEDIATE RELEASE

Contacts:

 



Investors:

Michael Weitz 203-352-8642



 

Michael Guido, CFA 203-352-8779



Media:

Matthew Altman 203-352-1177



WWE® Reports Q3 2018 Results

Maintains Path to Record Full-Year Performance



Third Quarter 2018 Highlights

·

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 platforms2 

2018 Business Outlook

·

Full year 2018 Adjusted OIBDA is expected to range from $160 million to $170 million, which would be consistent with the Company’s previous guidance3

·

WWE has operated in the Middle East for nearly 20 years and has developed a sizable and dedicated fan base. Considering the heinous crime committed at the Saudi consulate in Istanbul, the Company faced a very difficult decision as it relates to its event scheduled for November 2 in Riyadh. Similar to other U.S.-based companies who plan to continue operations in Saudi Arabia, the Company has decided to uphold its contractual obligations to the General Sports Authority and stage the event. Full year 2018 guidance is predicated on the staging of the Riyadh event as scheduled4



STAMFORD, Conn., October 25,  2018 - WWE (NYSE: WWE) today announced financial results for its third quarter ended September 30, 2018.  

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.” 


The following information was filed by World Wrestling Entertainmentinc (WWE) on Thursday, October 25, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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World Wrestling Entertainmentinc's Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

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Inside World Wrestling Entertainmentinc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Comprehensive Income (Parenthetical)
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders' Equity
Accounts Payable And Accrued Expenses
Accounts Payable And Accrued Expenses (Narrative) (Details)
Accounts Payable And Accrued Expenses (Schedule Of Accounts Payable And Accrued Expenses) (Details)
Accounts Payable And Accrued Expenses (Tables)
Basis Of Presentation And Business Description
Commitments And Contingencies
Concentration Of Credit Risk
Concentration Of Credit Risk (Details)
Convertible Debt
Convertible Debt (Narrative) (Details)
Convertible Debt (Schedule Of Convertible Notes) (Details)
Convertible Debt (Schedule Of Interest Expense Recognized) (Details)
Convertible Debt (Tables)
Earnings Per Share
Earnings Per Share (Narrative) (Details)
Earnings Per Share (Schedule Of Basic And Diluted Earnings Per Share) (Details)
Earnings Per Share (Tables)
Fair Value Measurement
Fair Value Measurement (Narrative) (Details)
Fair Value Measurement (Schedule Of Fair Value Of Debt Instruments) (Details)
Fair Value Measurement (Tables)
Feature Film Production Assets, Net
Feature Film Production Assets, Net (Narrative) (Details)
Feature Film Production Assets, Net (Schedule Of Feature Film Production Assets) (Details)
Feature Film Production Assets, Net (Tables)
Film And Television Production Incentives
Film And Television Production Incentives (Schedule Of Film And Television Production Incentives) (Details)
Film And Television Production Incentives (Tables)
Income Taxes
Income Taxes (Narrative) (Details)
Investment Securities And Short-Term Investments
Investment Securities And Short-Term Investments (Narrative) (Details)
Investment Securities And Short-Term Investments (Schedule Of Contractual Maturities Of Short-Term Investment Bonds) (Details)
Investment Securities And Short-Term Investments (Schedule Of Equity Instruments Without Readily Determinable Fair Value) (Details)
Investment Securities And Short-Term Investments (Schedule Of Investment Securities ) (Details)
Investment Securities And Short-Term Investments (Schedule Of Short-Term Investments Measured At Fair Value) (Details)
Investment Securities And Short-Term Investments (Schedule Of Tapout Investment ) (Details)
Investment Securities And Short-Term Investments (Summary Of Short-Term Investment Activity) (Details)
Investment Securities And Short-Term Investments (Tables)
Long-Term Debt And Credit Facilities
Long-Term Debt And Credit Facilities (Narrative) (Details)
Long-Term Debt And Credit Facilities (Schedule Of Debt) (Details)
Long-Term Debt And Credit Facilities (Tables)
Property And Equipment
Property And Equipment (Narrative) (Details)
Property And Equipment (Schedule Of Property And Equipment) (Details)
Property And Equipment (Tables)
Related Party Transactions
Related Party Transactions (Details)
Revenues
Revenues (Narrative) (Details)
Revenues (Schedule Of Revenues Disaggregated By Source) (Details)
Revenues (Tables)
Segment Information
Segment Information (Reconciliation Of Total Operating Income To Total Oibda) (Details)
Segment Information (Summary Of Financial Information For Reportable Segments) (Details)
Segment Information (Tables)
Significant Accounting Policies
Significant Accounting Policies (Cost Of Revenues) (Details)
Significant Accounting Policies (Policy)
Significant Accounting Policies (Tables)
Stock-Based Compensation
Stock-Based Compensation (Narrative) (Details)
Stock-Based Compensation (Summary Of Psu Activity) (Details)
Stock-Based Compensation (Summary Of Psu-Tsr Activity) (Details)
Stock-Based Compensation (Summary Of Rsu Activity) (Details)
Stock-Based Compensation (Tables)
Television Production Assets, Net
Television Production Assets, Net (Amortization Of Television Production Assets) (Details)
Television Production Assets, Net (Schedule Of Television Production Assets) (Details)
Television Production Assets, Net (Tables)

Material Contracts, Statements, Certifications & more

World Wrestling Entertainmentinc provided additional information to their SEC Filing as exhibits

Ticker: WWE
CIK: 1091907
Form Type: 10-Q Quarterly Report
Accession Number: 0001091907-18-000043
Submitted to the SEC: Thu Oct 25 2018 9:07:03 AM EST
Accepted by the SEC: Thu Oct 25 2018
Period: Sunday, September 30, 2018
Industry: Motion Picture And Video Tape Production

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