WWE Reports Fiscal Q1 Rise in Profit

Sep 7, 2005  •  Post A Comment

World Wrestling Entertainment said Wednesday that its fiscal first-quarter profit rose to $11.2 million from a year-earlier $7.6 million, thanks to a surge in branded merchandise revenue and higher pay-per-view events during the quarter.

Revenue for the three months ended July 29 rose to $93.8 million from $81.6 million a year earlier.

Driving a lot of the growth were increases in revenue in branded merchandise, PPV events and live and televised entertainment.

PPV revenue hit $21.6 million, versus $16.9 million a year ago, thanks to the airing of five events in the quarter, compared with four events a year ago. The company’s live and televised business reported revenue of $68.6 million, up slightly from $65.2 million a year earlier. Branded merchandise revenue reached $25.2 million from $16.4 million a year ago.