August 22, 2022 Observer Newsletter: WWE Q2 financials, G1 Climax 32 finals
In a quarterly conference call announced with less than 24 hours’ notice, and held in the early morning, WWE did its first investors call since the departure of Vince McMahon. The company announced another strong financial performance.
In quarter two, covering 4/1 to 6/30, WWE took in $328.2 million in revenue and turned a $49.0 million profit. It was a combination of it being the WrestleMania quarter and WrestleMania was much larger this year than last year due to fewer restrictions and larger attendance.
Last year in the same quarter, the company took in $265.6 million in revenue and posted a $29.2 million profit.
The increases in revenue were running a full schedule of live events when last year they didn’t start back until July, plus an increase in video game revenue and rights fees escalators.
The quarterly OIBDA was $91.5 million and led the company to increase its projections for the year from a $360 million to $375 million range to a $370 million to $385 million range.
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Dave Meltzer is the founder and lead writer on the Wrestling Observer Newsletter, the weekly constant when it comes to news and reviews in pro wrestling and mixed martial arts for more than 40 years. Dave also co-hosts Wrestling Observer Radio with Bryan Alvarez and had had bylines for The National, Yahoo Sports, MMA Fighting and others.