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.