World Wrestling Entertainment, Inc.NYSE
Mon, Nov. 28, 2:01 PM
- World Wrestling Entertainment (NYSE:WWE) and SNICKERS will come together once again for WrestleMania 33.
- WWE’s pop-culture extravaganza, will take place on Sunday, April 2, 2017 at the Orlando Citrus Bowl and will broadcast live around the world on WWE Network.
- “We are excited to partner with SNICKERS for the second straight year as we aim to raise the bar in bringing their award-winning ‘You’re Not You When You’re Hungry’ campaign to life in entertaining ways that only our WWE Superstars can,” said Michelle Wilson, WWE Chief Revenue & Marketing Officer. “As the exclusive presenting partner of one of the biggest sports and entertainment events in the world, SNICKERS will reach our global fan base that consumes content across all platforms.”
- Press Release
Fri, Nov. 11, 4:05 PM
- World Wrestling Entertainment (WWE +3%) has won dismissal of lawsuits tied to the deaths of two former wrestlers.
- Relatives of Nelson Frazier and Matthew Osborne had said the wrestlers' deaths were caused by traumatic brain injuries.
- But Judge Vanessa Bryant noted an autopsy called Osborne's 2013 death accidental, while the death of Frazier eight months later was blamed on a heart attack linked to obesity and diabetes.
- "It is impossible to plausibly allege, much less prove that either wrestler had CTE," and it's "rank speculation" to say WWE conduct was a cause, Bryant wrote.
- The company still faces other lawsuits covering dozens of wrestlers over whether conduct contributed to neurological injuries.
Fri, Oct. 28, 5:35 PM
- The day after it eked out a gain following an earnings miss, World Wrestling Entertainment (NYSE:WWE) gave up 5.8% today as analysts came in with downgrades.
- Shares had finished up 0.3% after opening to the downside yesterday. Today, Wells Fargo downgraded shares to Market Perform, from Outperform, and Pacific Crest downgraded to Sector Weight from Overweight and pulled its price target. Deutsche Bank, meanwhile, downgraded to Sell.
- The question of M&A came up (spurred, as it usually is recently, by AT&T/Time Warner) on the company's earnings call, put by BTIG's Brandon Ross. "Again, we're open to anything," says CEO Vince McMahon, "so it's not a question of if the right deal came along, it's one of those things where you do, to do any good reviews, we're listening."
- "The old 'content is king' is true, maybe truer today than it's ever been. So we're open for business," he said.
- FBN's Robert Routh has a few ideas ("admittedly only pure speculation") about strategic options: "Given the existing partnership with NBCUniversal it seems Comcast (NASDAQ:CMCSA) could be a logical fit for WWE, as could MSG (NYSE:MSGN) or possibly even Live Nation (NYSE:LYV)."
Thu, Oct. 27, 8:35 AM
Wed, Oct. 26, 5:30 PM
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Thu, Oct. 20, 2:29 PM
Thu, Jul. 28, 12:18 PM
- World Wrestling Entertainment (WWE -1.3%) is off slightly today on Q2 profits that missed expectations despite a solid revenue showing.
- Revenues grew 32% to a record $199M; pro forma revenues of $169.6M (up 13%) exclude timing impact of WrestleMania, which happened in Q2 this year vs. the first quarter of 2015. WWE says the effect of WrestleMania on ticket, merchandise and pay-per-view increased Q2 revenue by $29.4M and reduced OIBDA by $0.2M (no net impact on EPS).
- The WWE Network hit 1.52M average paid subscribers (up 25%).
- For Q3, it expects OIBDA of $24M-$28M (up from 2015's $23.4M due to strong Live Events performance and increased monetization of video). It's forecasting average paid WWE Network subscribers of 1.49M (up 27% Y/Y but down about 2% sequentially due to seasonal effects).
- For the full year, "if recent overarching trends regarding the acquisition and retention of subscribers continue over the remainder of 2016, management continues to believe average paid subscriber growth would be at the upper end of its range and 2016 Adjusted OIBDA would be between $80M and $85M."
- Press Release
Thu, Jul. 28, 8:36 AM
Wed, Jul. 27, 5:30 PM
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Thu, Jul. 21, 1:11 PM
Tue, May 10, 9:27 AM
- World Wresting Entertainment (NYSE:WWE) has picked up 3.2% premarket after it beat on top and bottom lines with its Q1 earnings report and saw operating income growth coming in the second half.
- Revenue rose 13% on a pro forma basis (WrestleMania occurred in Q2 this year, vs. Q1 last year), while OIBDA was up 31% and up 29% on pro forma basis.
- Revenues by segment: In Media Division, Network, $40.3M (up 7.2%); Television, $60.7M (up 4.3%); Home Entertainment, $3.3M (down 29.8%); Digital Media, $5.4M (up 27.9%); Live Events, $25.3M (down 35.6%). In Consumer Products, Licensing, $21M (up 27.3%); Venue Merchandise, $5.5M (down 34.5%); WWEShop, $6.8M (up 28.3%); WWE Studios, $2M (up 33%).
- The WWE Network averaged 1.29M paid subs (up 39%) in growing to 1.47M subs at Q1's end. And it hit a record 1.82M total subs after WrestleMania (again, in Q2 this year). Content drew 10B YouTube views over the past 12 months, the company says.
- It's guiding to average paid subs of 1.5M in Q2, and adjusted OIBDA of about $5M-$9M.
- Conference call to come at 11 a.m. ET.
Tue, May 10, 8:33 AM
- World Wrestling Entertainment (NYSE:WWE): Q1 EPS of $0.18 beats by $0.08.
- Revenue of $171.1M (-2.9% Y/Y) beats by $0.47M.
Mon, May 9, 5:30 PM| Mon, May 9, 5:30 PM | 1 Comment
Thu, Apr. 21, 3:34 PM
- World Wrestling Entertainment (NYSE:WWE) declares $0.12/share quarterly dividend, in line with previous.
- Forward yield 2.9%
- Payable June 27; for shareholders of record June 15; ex-div June 13.
Mon, Apr. 4, 10:20 AM
- Is it the golden age for wrestling again? WrestleMania 32 became the highest-grossing live event for World Wrestling Entertainment (WWE +3%) and set an attendance record last night, drawing 101,763 to surpass a mark of 93,173 set in 1987 with WrestleMania 3.
- A near five-hour show that had been criticized in the lead-up for featuring storylines from part-time (and older) wrestlers put a couple of surprises in, including a match that featured popular legacy wrestler Dwayne "The Rock" Johnson and a returning John Cena.
- The event, in Arlington, Texas, became the highest-grossing live event ever for WWE, drawing $17.3M and easily surpassing last year's previous record of $12.6M.
- A rash of injuries had weakened the annual event's card this year.
- Heading into the weekend event, Macquarie reiterated its hold rating on the stock and price target of $18, while Pacific Crest had launched coverage at Overweight with a $22 (which holds 23% upside from today's raised price).
- Now read Demystifying WWE's Business »
Thu, Mar. 31, 1:32 PM
- Ahead of its flagship event on Sunday, WrestleMania 32, World Wresting Entertainment (NYSE:WWE) is trading 1.5% lower, and Macquarie is expressing concerns about the stock.
- One is subscribers. The WWE Network launched in the UK in January 2015, adding a number of international subs, but "We were never given a subscriber number at January's Royal Rumble," says Macquarie's James Clement. "If this figure was favorable, we have a feeling it would have been disclosed."
- In addition, not only might WrestleMania be weak on storylines -- four of six superstars in the big matches aren't full-time wrestlers -- it's competing on a tough sports weekend, with the NCAA Final Four and championship game, and MLB's Opening Day. "There may well be a limit to the number of hours WWE's target demographic is able to spend in front of the TV screen without irritating their parents, spouses or significant others," Clement says.
- Now read Demystifying WWE's Business »