{"id":11192,"date":"2019-02-09T18:15:10","date_gmt":"2019-02-09T23:15:10","guid":{"rendered":"http:\/\/prowrestlingjournal.com\/?p=11192"},"modified":"2019-02-09T18:15:19","modified_gmt":"2019-02-09T23:15:19","slug":"wwe-results-for-fourth-quarter-and-full-year-2018","status":"publish","type":"post","link":"https:\/\/prowrestlingjournal.com\/index.php\/2019\/02\/09\/wwe-results-for-fourth-quarter-and-full-year-2018\/","title":{"rendered":"WWE Results For Fourth Quarter and Full Year 2018"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Results taken from<\/strong> <a href=\"https:\/\/corporate.wwe.com\/news\/company-news\/2019\/02-07-2019\">https:\/\/corporate.wwe.com\/news\/company-news\/2019\/02-07-2019<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>By Ciaran James@<a href=\"https:\/\/twitter.com\/TheCiaranJames\">TheCiaranJames\ufeff<\/a><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Fourth Quarter 2018 Highlights<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Revenues increased 29% to $272.5 million as compared to the prior year quarter<\/li><li>Operating income nearly doubled to $53.4 million from $27.0 million in the prior year quarter<\/li><li>Adjusted OIBDA<sup>1<\/sup>&nbsp;increased 57% to $64.4 million, exceeding Company guidance and representing an all-time record quarter<\/li><li><em>WWE Network<\/em>&nbsp;average paid subscribers<sup>2<\/sup>&nbsp;increased 7% to approximately 1.59 million paid subscribers, consistent with Company guidance<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Full Year 2018 Highlights<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Revenue increased 16% to $930.2 million, the highest in the Company\u2019s history<\/li><li>Operating income increased 51% to a record of $114.5 million<\/li><li>Adjusted OIBDA increased 31% to $178.9 million, exceeding Company guidance and representing all-time record performance for the second consecutive year<\/li><li>International revenue increased 58% to $317.8 million from $201.3 million in the prior year, the highest in the Company\u2019s history and the first-time international revenue has exceeded $300 million<\/li><li>WWE completed agreements with USA Network (NBCU) and Fox Sports, effective October 1, 2019, which increase the average annual value (AAV) of its U.S. distribution to 3.6 times that of the prior deal<\/li><li>Produced new, large-scale international events (<em>Greatest Royal Rumble, Crown Jewel and Super Show-Down<\/em>) and compelling content across platforms, including the first all-women\u2019s pay-per-view,&nbsp;<em>WWE Evolution<\/em>&nbsp;(WWE Network) and the launch of&nbsp;<em>Miz &amp; Mrs.<\/em>&nbsp;(USA Network)<\/li><li>Digital engagement continued to grow with video views up 57% to 31.4 billion and hours consumed up 77% to 1.2 billion across digital and social media platforms<sup>3<\/sup><\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>STAMFORD, Conn., February 7, 2019 &#8211;&nbsp;<\/strong>WWE (NYSE: WWE) today announced financial results for its fourth quarter ended December 31, 2018.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cIn 2018, WWE generated the highest level of revenue and earnings in the Company\u2019s history by leveraging our brand strength to increase the monetization of our content worldwide,\u201d stated Vince McMahon, Chairman and Chief Executive Officer. \u201cOur long-term growth strategy will continue to focus on content creation, digitization and international development.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">George Barrios, WWE Co-President, added \u201cWe increased revenue by nearly $130 million, and achieved a record level of Adjusted OIBDA and network subscribers. We expect to balance 2019 revenue growth with investment in strategic areas that extend the moat around our business, enabling us to continue our business transformation and maximize shareholder value.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Full Year 2018 Consolidated Results<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For the twelve months ended December 31, 2018, revenues increased 16% to $930.2 million from $801.0 million primarily driven by growth in the Media segment.&nbsp;<strong>Operating income<\/strong>increased 51% to $114.5 million from $75.6 million, driven primarily by the growth in revenue (net of related operating expenses), which was partially offset by higher staff-related costs, including management incentive compensation and stock compensation resulting from improved operating performance and the rise in the Company\u2019s stock price.&nbsp;<strong>Adjusted OIBDA<\/strong>&nbsp;increased 31% to $178.9 million from $136.1 million. Net income increased to $99.6 million ($1.12 per diluted share) from $32.6 million ($0.42 per diluted share) in the prior year period.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Cash flows generated by operating activities<\/strong>&nbsp;reached $186.7 million and&nbsp;<strong>Free Cash Flow<\/strong>&nbsp;totaled $154.4 million as compared to $96.6 million and $71.9 million, respectively, in the prior year period.<sup>4<\/sup>&nbsp;The growth in both measures was primarily due to improved operating performance.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Cash, cash equivalents and short-term investments<\/strong>&nbsp;were approximately $360 million as of December 31, 2018, and the Company estimates&nbsp;<strong>debt capacity<\/strong>&nbsp;under its revolving line of credit of approximately $100 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Results taken from https:\/\/corporate.wwe.com\/news\/company-news\/2019\/02-07-2019 By Ciaran James@TheCiaranJames\ufeff Fourth Quarter 2018 Highlights Revenues increased 29% to $272.5 million as compared to the prior year quarter Operating income nearly doubled to $53.4 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":11193,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_forum_subforum_count":0,"tdm_status":"","tdm_grid_status":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[2,185],"tags":[47],"class_list":["post-11192","post","type-post","status-publish","format-standard","has-post-thumbnail","category-featured","category-wwe","tag-wwe"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9jnWd-2Uw","jetpack_featured_media_url":"https:\/\/i0.wp.com\/prowrestlingjournal.com\/wp-content\/uploads\/2019\/02\/36561eef964a99ba46bd614dd310f419-1474293354-800-1.jpg?fit=564%2C316&ssl=1","_links":{"self":[{"href":"https:\/\/prowrestlingjournal.com\/index.php\/wp-json\/wp\/v2\/posts\/11192","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prowrestlingjournal.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prowrestlingjournal.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prowrestlingjournal.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/prowrestlingjournal.com\/index.php\/wp-json\/wp\/v2\/comments?post=11192"}],"version-history":[{"count":2,"href":"https:\/\/prowrestlingjournal.com\/index.php\/wp-json\/wp\/v2\/posts\/11192\/revisions"}],"predecessor-version":[{"id":11195,"href":"https:\/\/prowrestlingjournal.com\/index.php\/wp-json\/wp\/v2\/posts\/11192\/revisions\/11195"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/prowrestlingjournal.com\/index.php\/wp-json\/wp\/v2\/media\/11193"}],"wp:attachment":[{"href":"https:\/\/prowrestlingjournal.com\/index.php\/wp-json\/wp\/v2\/media?parent=11192"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prowrestlingjournal.com\/index.php\/wp-json\/wp\/v2\/categories?post=11192"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prowrestlingjournal.com\/index.php\/wp-json\/wp\/v2\/tags?post=11192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}