Free Research Report as WWE’s Q4 Revenues Rose 9% and Outperformed Expectations

LONDON, UK / ACCESSWIRE / March 15, 2018 / Active-Investors.com has just released a free earnings report on World Wrestling Entertainment, Inc. (NYSE: WWE) ("WWE"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=WWE. The Company posted its financial results on February 08, 2018, for the fourth quarter of the fiscal year 2017 (Q4 FY17) and for the full fiscal year 2017 (FY17). The Company reported a growth of 9% y-o-y in its quarterly total revenues, beating market consensus estimates. Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, World Wrestling Entertainment most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

During the quarter ended December 31, 2017, WWE reported total revenues of $211.6 million, which came in above the $194.9 million recorded at the end of Q4 FY16, driven by the monetization of the Company's video content. Moreover, the Company's total revenue numbers beat market consensus estimates of $206 million.

The producer of professional wrestling events and television shows posted a net income of $4.8 million, or $0.06 per diluted share, in Q4 FY17 versus $8.0 million, or $0.10 per diluted share, in Q4 FY16. The Company's net income for the reported quarter included one-time expenses of $0.01 per diluted share due to Film Impairments, and $0.14 per diluted share due to the enactment of the Tax Cuts and Jobs Act 2017 (TJCA). Meanwhile, Wall Street had expected the Company to report adjusted diluted earnings per share (EPS) of $0.20.

For FY17, WWE's revenues came in at $801.0 million compared to $729.2 million in the previous year. The Company reported a net income of $32.6 million, or $0.42 per diluted share, in FY17 compared to $33.8 million, or $0.44 per diluted share, in FY16. Additionally, the Company's net income in FY17 included one-time expenses of $0.08 per diluted share and $0.14 per diluted share due to the enactment of the TJCA.

Operational Metrics

For the reported quarter, the Stamford, Connecticut-based Company's cost of revenues came in at $118.2 million compared to $117.0 million in Q4 FY16. The Company's selling, general, and administrative expenses (SG&A) increased to $60.1 million in Q4 FY17 from $57.4 million in Q4 FY16. The Company's operating income came in at $27.0 million compared to $13.9 million in Q4 FY16. The Company reported an adjusted operating income before depreciation and amortization (OIBDA) of $34.8 million in Q4 FY17, surging 70% from $20.5 million in the last year's same quarter.

Division Results

WWE's Media division's total revenues grew to $135.2 million during Q4 FY17 from $125.0 million in Q4 FY16, primarily attributed to the contractual escalation of television rights fees, higher digital advertising revenues, and growth of WWE Network subscribers. The division's adjusted OIBDA grew to $66.4 million in Q4 FY17 from $51.2 million in the previous year's comparable quarter.

WWE's Live Events division's revenues were $35.2 million in Q4 FY17 compared to $38.6 million in the year-ago corresponding quarter. Furthermore, the division reported an adjusted OIBDA of $5.4 million in Q4 FY17 compared to $6.2 million in the prior year's same quarter.

WWE's Consumer Products division's revenues rose to $30.0 million in Q4 FY17 from $27.8 million in the prior year's comparable quarter, as there were higher online sales of branded merchandise and higher royalties from the sale of licensed toy products. During the reported period, the division reported an adjusted OIBDA of $11.1 million, up from $9.7 million in Q4 FY16.

WWE's Studios division generated revenues of $9.6 million in Q4 FY17 compared to $2.4 million in Q4 FY16. Moreover, the division's adjusted OIBDA stood at $1.8 million for the reported quarter versus a negative adjusted OIBDA of $1.1 million in the year-ago corresponding quarter.

Cash Flow and Balance Sheet

During Q4 FY17, the Company's cash provided by operating activities of continuing operations increased to $55.6 million from $36.9 million in the prior year's same quarter. The Company's free cash flow grew to $48.6 million in Q4 FY17 from $30.9 million in Q4 FY16.

At the close of books on December 31, 2017, WWE had cash and cash equivalents of $137.7 million compared to $212.0 million at the close of books on December 31, 2016. The Company's long-term debt decreased to $31.0 million as on December 31, 2017, compared to $35.6 million as on December 31, 2016.

Dividend

In a separate press release on February 01, 2018, WWE's Board of Directors declared a regular quarterly dividend of $0.12 per share for all Class A and B shares of common stock. The dividend is payable on March 26, 2018, to all shareholders of record as on March 15, 2018.

Stock Performance Snapshot

March 14, 2018 - At Wednesday's closing bell, World Wrestling Entertainment's stock marginally down 0.05%, ending the trading session at $37.34.

Volume traded for the day: 551.59 thousand shares.

Stock performance in the last month – up 5.60%; previous three-month period – up 21.63%; past twelve-month period – up 84.30%; and year-to-date – up 22.11%

After yesterday's close, World Wrestling Entertainment's market cap was at $2.86 billion.

Price to Earnings (P/E) ratio was at 66.80.

The stock has a dividend yield of 1.29%.

The stock is part of the Services sector, categorized under the Entertainment - Diversified industry.

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