PPV Boosts WWE in 1Q8/23/2004 6:23 AM Eastern
Increased pay-per-view revenue helped World Wrestling Entertainment Inc. to boost its quarterly profit for its fiscal first quarter ended July 30.
WWE’s first quarter profit was $7.6 million, or 11 cents per share, compared with $2.7 million (4 cents) in the prior-year period. Revenue rose to $81.6 million from $74.7 million in the same quarter last year.
The wrestling programmer aired four PPV events during the first quarter, versus two in the year-earlier quarter.
WWE’s live-event attendance is still sluggish, however.
"In contrast to the exceptional success we are seeing with our touring outside of North America, it appears that we have not yet turned the corner on our live-event attendance in the United States,” CEO Linda McMahon said in a prepared statement.
“Although our ratings for both [WWE Monday Night Raw] and SmackDown! have been relatively flat, we continue to develop new talent and exciting story lines to motivate and captivate our fans and bolster our ratings,” she added.