WWE announced today financial results for its first quarter ended March 31, 2010. Net income was $24.74 million or $0.33 per share from $10.32 million or $0.14 per share in the prior year quarter. Several analysts had predicted a $22 million profit for the quarter, so very close. Revenues totaled $138.72 million compared with $107.82 million in the prior year quarter. Revenues from North America and outside North America increased 28 percent and 33 percent, respectively, showing the strength of WWE's live event business. Television Rights Fees revenues were $29.4 million as compared to $24.9 million in the prior year quarter. Revenues from Consumer Products businesses were $30.7 million versus $33.1 million in the prior year quarter. The WWE stock closed this afternoon at $16.21 down $1.49 (-8.42%) on the NYSE. Today would have been a better day but the market was down as a whole due to heavy selling pressure amid fears that the Greek credit crisis is spreading globally.
Credit: Wrestling Globe Newsletter 5-6-10
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