November 6, 2017 Wrestling Observer Newsletter: WWE quarter financials, Manami Toyota retiring, more
The WWE just had its most profitable quarter for wrestling in years, and at the same time, the key popularity indicators were disappointing.
For the three months ending on 9/30, the company grossed $186,325,000 and ended with a $21,843,000 profit. Last year’s similar quarter was $164,162,000 in revenue and $10,319,000 in profits.
It was different from most quarters going back many years, where the profit covered the dividend of $9,754,000.
The numbers exceeded Wall Street predictions of $172 million in revenue and $15 million in profits, and led to a significant increase in the stock price. At press time, the stock is at $26.53 per share, giving the company a $2.05 billion market value. It’s the highest the stock has been since the stock price collapsed when WWE signed its USA Network deal in 2014 for far less money than the company had indicated it would get to stockholders.
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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.