By Ryan Clark | May 06, 2008
STAMFORD, Conn. - World Wrestling Entertainment Inc., a promoter of wrestling events and other entertainment, said Tuesday its first-quarter profit rose 29 percent, helped by WrestleMania XXIV.
For the period ended March, 31, earnings grew to $19.5 million, or 27 cents per share, compared with $15.1 million, or 21 cents per share, meeting the expectations of analysts polled by Thomson Financial.
Quarterly revenue soared 51 percent to $162.6 million from $107.4 million.
Analysts predicted sales of $131 million.
The company said WrestleMania XXIV contributed $4.6 million to its profit and about $31.3 million to revenue.
Live and televised entertainment revenue jumped to $99.8 million from $63 million, while consumer-products revenue increased to $43.4 million from $37.4 million. Revenue from digital media climbed to $8.1 million from $7 million, while the WWE Films segment added $11.3 million to sales.
Shares of World Wrestling Entertainment (nyse: WWE - news - people ) gained 20 cents to $18.57 in premarket trading. The stock closed at $18.37 Monday.
Cody Rhodes Starts YouTube Channel, WOH Title Match Announced, NJPW G1 Special Meet And Greet
EC3 On The Reason WWE Probably Released Him In 2013
Jay White Talks How He's Preparing For His First G1 Climax
Spoiler: WWE NXT "Takeover: Brooklyn IV" Title Match Revealed
Former WWE Star Debuting On Next Week's Impact, Konnan Returns To LAX (Video), New Tag Team Debuting
Spoiler: Title Change At Tonight's WWE NXT Tapings
Mystery Attacker Killer Kross Explains His Actions (Video), Knockouts Title Match Confirmed, More
Titles Change Hands At Tonight's Impact
WWE To Make Huge Women's Wrestling Announcement Soon?
Big Cass Reportedly Released Due To Personal Conduct Issues, Past Issues With Cass
Why Big Cass Had Heat With WWE Officials, Tour Bus Bathroom Incident, Why WWE Didn't Wish Him Well
Enzo Amore Reveals Planned Big Swerve For His Storyline With Nia Jax
Leon "Big Van Vader" White Passes Away At 63
** SPOILERS ** WWE NXT TV Tapings For June & July
Big Cass Post-WWE Update, WWE Reveals Rare Match Between Former ECW Originals, Alexa Bliss
Sami Zayn Undergoing Surgeries For Multiple Injuries, Likely Out Until WrestleMania 35 Season