WWE reported their first quarter 2014 financials this morning. For
the quarter, the Company reported a Net loss of $8.0 million, or $0.11 per
share, compared to Net income of $3.0 million, or $0.04 per share, in the first
quarter last year. The loss was mainly due to the launch of the WWE Network, and
lower results from its video game licensing business, which was due primarily to
the transition to a new licensee. The total revenue for the quarter was $125.6
million, which is up slightly from this time last year’s $124 million. Vince
McMahon stated the following on the results…
Vince McMahon: “For the quarter, our earnings
reflected the launch of our WWE Network, which delivers unparalleled depth of
programming, ease of use and value to our fans. With almost 670,000 WWE Network
subscribers in the U.S. and nearly 400,000 domestic pay-per-view buying homes
for WrestleMania 30, we are confident that we will reach our goal of 1 million
subscribers by the end of 2014. To drive WWE Network subscriber growth, we are
highly focused on further developing our programming, expanding distribution
platforms and executing customer acquisition campaigns. The expansion of WWE
Network in the U.S. and international markets will provide a platform for
long-term growth over the coming years.”
