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.
Big Name To Appear As Special Referee For Upcoming WWE NXT Title Match, Adam Cole Comments
Sting On The Undertaker's Reaction About A Match With Him, Relationship With Vince McMahon, WCW
How WWE Kept Kane's RAW Return A Secret, Backstage Notes On Sunday's WWE TLC Pay-Per-View
Zelina Vega On Interrupting WWE NXT Champion, Bobby Roode's First Jobs (Video), Fans On The Shield
Knockouts Main Event On Tonight's Impact, GFW Samoa Joe Special (Video), The LAX Talks BFG Match
Backstage News On Why Nia Jax Is Unhappy With WWE, Leverage Due To Her Relation To The Rock, More
Backstage Notes On Jinder Mahal Vs. Brock Lesnar At WWE Survivor Series, Lesnar's Rumble Opponent
The Shield Crowd Entrance From Monday's RAW (Video), Total Bellas Season Finale Synopsis, Sami Zayn
WWE SmackDown Results - Big Challenge Issued, Sami Zayn & Kevin Owens - Daniel Bryan, More
WWE Superstar Reportedly Granted Leave Of Absence
Backstage Updates On Why Neville Is Unhappy With WWE, His Wrestling Future, Vince McMahon's Reaction
Chris Jericho Responds To Neville's Rumored WWE Exit
Speculation On Kane's WWE TV Return At RAW, Photos & Videos
More WWE Wrestlers Looking To Leave?, Funny Roman Reigns - Vince McMahon WWE 2K18 Video, WWE Shop
Why Bray Wyatt And Bo Dallas Have Missed WWE Events, John Cena Selling Lamborghini, Daniel Bryan
How Many Wrestlers In WWE Have A Therapeutic Use Exemption?