HomeWrestlingWWE: Widespread Company Releases After Third Quarter 2021 Report

WWE: Widespread Company Releases After Third Quarter 2021 Report

It’s a typical day in WWE land, as they have good news and bad news for everyone involved. The good news is that they earned lots of money (See Below for the Third Quarter 2021 reports)

The bad news? They just released the following;

  • Frankie Monet
  • Ember Moon
  • Jessi Kamea
  • Katrina Cortez
  • Jeet Rama
  • Oney Lorcan
  • Trey Baxter
  • Zayda Ramier
  • Scarlett
  • B-Fab
  • Gran Metalik
  • Lince Dorado
  • Karrion Kross
  • Harry Smith
  • Nia Jax
  • Eva Marie
  • Keith Lee
  • Mia Yim

WWE® REPORTS THIRD QUARTER 2021 RESULTS

Raises Full Year 2021 Guidance

Third Quarter 2021 Highlights*

* (All comparisons are versus the prior year period unless stated otherwise)

— Revenue was $255.8 million, an increase of 15% or $34.2 million, primarily driven by higher ticket sales and, to a lesser extent, venue merchandise sales, resulting from the Company’s return to ticketed live events, including SummerSlam

— Operating income was $64.0 million, an increase of 1% or $0.6 million, benefiting from the growth in revenue and the absence of COVID-associated severance expense as compared to the prior year. This benefit was largely offset by higher television and event-related production expense

— Adjusted OIBDA was $77.9 million, a decrease of 8% or $6.4 million. Adjusted OIBDA in the prior year quarter excludes COVID-associated severance expense

— WWE returned to live event touring beginning July 16, 2021, with strong demand for tickets that outpaced expectations. WWE live events in North America attracted the highest quarterly average attendance in more than a decade

— SummerSlam was held at Allegiant Stadium in Las Vegas in front of a record-breaking, sold-out crowd of more than 51,000 fans. As the most watched SummerSlam in the Company’s history, the event also set a record for sponsorship and grew merchandise sales by 155% compared with 2019’s SummerSlam

— Digital video views were a record 12.8 billion, an increase of 39%, and hours consumed were a record 411 million, an increase of 20%, across digital and social platforms

— Return of capital to shareholders totaled $31.0 million, including $21.9 million in share repurchases and $9.1 million in dividends paid

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