The World Wrestling Entertainment has recently posted its earnings report for the third quarter which ended on the 30th of September this year. The sports entertainment company posted a Net Income of $21.8 million or $0.28 per diluted share compared to the previous year’s figures of $11.1 million, or $0.14 per diluted share respectively.
Additionally, the Operating Income surged to $33.9 million from $18.3 million for the period as the Adjusted OIBDA1 climbed to $40.4 million from $24.5 million.
“We are pleased with our continued success in growing and engaging a large, global audience across multiple platforms. The increased production of original content, our focus on localization and the further development of a diverse talent base contributed to that important achievement, reinforcing the significant scale and power of our brands,” Chairman and Chief Executive Officer of WWE Vince McMahon stated in reports.
A WWE liveshow featuring Bayley.
“We achieved a 14% increase in revenue from the monetization of video content and generated results that exceeded the range of our guidance. As we continue to drive WWE’s digital and direct-to-consumer transformation, we have increased our 2017 guidance, which calls for record revenue, record Adjusted OIBDA results, and record subscriber levels.” WWE Chief Strategy & Financial Officer George Barrios added.
WWE estimates in 2018 that the company will have another successful year of record revenue. The company also estimates of at least $115 million for its Adjusted OIBDA which if achieved, would be an all-time record.
The wrestling business expects a substantial long-term development prospect for the company. WWE believes that the 2018 approach will balance its earnings progress with investment in strategic expanses.
“We remain focused on delivering a wide range of content across platforms that will strengthen our engagement with a broad audience of ardent fans. We believe these efforts will enable us to achieve record results in the coming year and to maximize the value of our long-form content.” Barrios added.
WWE has been dominated by bulls since day it posted its Q3 results. It managed to continue such trend up to its most recent one. However, the latest candle seemed to have struggled despite being bullish.
The sports company’s Relative Strength Index also mirrored the performance above with a performance that hit the 60’s region making the stock not oversold for the time being. It was last found at 66.86.
The Coppock Curve has shown no signs of decline in its recent performance. At its performance of 4.19, a buy would be advised for the stock.
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