World Wrestling Entertainmentinc (WWE) 10-Q Quarterly Report October 2018

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

Revenue - Product Highlight
This increase was driven primarily by $10.7 million in incremental revenues associated with the contractual escalation of our core content rights fees Raw and SmackDown Live and the timing impact of our licensed reality-based television series.

Financial - Expense Highlight
Our consolidated general and administrative expenses increased by $5.2 million, or 9%, in the current year period as compared to the prior year period.
Financial - Expense Highlight
Our consolidated operating expenses increased by $38.5 million, or 10%, in the current year period as compared to the prior year period.
Financial - Expense Highlight
Our consolidated general and administrative expenses increased by $4.2 million, or 26%, in the current year quarter as compared to the prior year quarter.
Revenue - Product Highlight
These increases were partially offset by a decrease of $12.2 million in consumer product licensing revenue due primarily to the impact of the timing of revenue recognition resulting from the Companys adoption of ASC Topic 606, and a decline of $6.7 million in Live Events revenues due to lower average attendance.
Financial - Expense
Our consolidated operating expenses increased...Read more
Financial - Expense
Our consolidated marketing and selling...Read more
Revenue - Product
Network revenues, which include revenues...Read more
Financial - Expense
Our consolidated marketing and selling...Read more
Revenue - Product
Our consolidated net revenues increased...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

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

Exhibit 10.5A: Material Contract

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

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

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