WWE Reports Revenue Up, Net Income Down

Source: 1wrestling.com

– WWE reported the results for the 2007 Third Quarter and reports that revenue has increased to $108.10 million which is up from $93.2 million in the same quarter as last year. Net income slipped slightly to $8.5 million, down from $9.2 million last year.

Linda McMahon was quoted in a press release as saying: "In addition to the $12.8 million in film related revenues, we posted higher revenues from both the Live and Televised and Digital Media segments in the third quarter. We also announced the development and implementation of our strategic initiative for continued international expansion. We are establishing new regional offices in Brazil and Australia to complement our current offices in Canada, the UK and China. This will enable senior leadership to be on the ground in these locations, and position our company for continued growth and provide increased access to our expanding WWE fan base."

Revenue from Digital Media increased 31% to $7.7 million, up from $5.9 million last year.

The $12.8 million in revenue shown by WWE films marks the first time that company has recorded revenue for that division. WWE only participates in revenue after distributors have recouped their print and advertising costs. The $12.8 million is primarily related to "The Marine" featuring John Cena.