News
WWE News: WWE Second Quarter Earnings Report Released, Record Revenue
| World Wrestling Entertainment, Inc.
Consolidated Income Statements (In millions, except per share data) (Unaudited) |
||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||
| 2018 | 2017 | 2018 | 2017 | |||||||||
| Net revenues | $ | 281.6 | $ | 214.6 | $ | 469.3 | $ | 403.0 | ||||
| Operating expenses | 198.9 | 158.0 | 318.9 | 289.4 | ||||||||
| Marketing and selling expenses | 29.7 | 21.6 | 49.6 | 42.1 | ||||||||
| General and administrative expenses | 24.9 | 18.0 | 44.6 | 43.6 | ||||||||
| Depreciation and amortization | 6.9 | 6.3 | 13.2 | 13.2 | ||||||||
| Operating income | 21.2 | 10.7 | 43.0 | 14.7 | ||||||||
| Interest expense | 4.7 | 3.7 | 8.2 | 7.2 | ||||||||
| Loss on equity investment | 3.0 | — | 3.0 | — | ||||||||
| Investment income, net | 1.4 | 0.8 | 2.8 | 1.7 | ||||||||
| Other income (expense), net | (0.4) | — | — | — | ||||||||
| Income before income taxes | 14.5 | 7.8 | 34.6 | 9.2 | ||||||||
| Provision for income taxes | 4.5 | 2.7 | 9.8 | 3.2 | ||||||||
| Net income | $ | 10.0 | $ | 5.1 | $ | 24.8 | $ | 6.0 | ||||
| Earnings per share: | ||||||||||||
| Basic | $ | 0.13 | $ | 0.07 | $ | 0.32 | $ | 0.08 | ||||
| Diluted | $ | 0.11 | $ | 0.06 | $ | 0.29 | $ | 0.08 | ||||
| Weighted average common shares outstanding: | ||||||||||||
| Basic | 77.2 | 76.5 | 77.2 | 76.4 | ||||||||
| Diluted | 87.1 | 78.6 | 85.2 | 78.4 | ||||||||
| Dividends declared per common share (Class A and B) | $ | 0.12 | $ | 0.12 | $ | 0.24 | $ | 0.24 | ||||
| World Wrestling Entertainment, Inc.
Consolidated Balance Sheets (In millions) (Unaudited) |
||||||
| As of | ||||||
| June 30,
2018 |
December 31,
2017 |
|||||
| ASSETS | ||||||
| CURRENT ASSETS: | ||||||
| Cash and cash equivalents | $ | 154.8 | $ | 137.7 | ||
| Short-term investments, net | 186.8 | 159.7 | ||||
| Accounts receivable, net | 83.0 | 65.3 | ||||
| Inventory | 8.6 | 8.3 | ||||
| Prepaid expenses and other current assets | 24.8 | 20.0 | ||||
| Total current assets | 458.0 | 391.0 | ||||
| PROPERTY AND EQUIPMENT, NET | 130.1 | 131.3 | ||||
| FEATURE FILM PRODUCTION ASSETS, NET | 19.3 | 22.3 | ||||
| TELEVISION PRODUCTION ASSETS, NET | 8.2 | 7.3 | ||||
| INVESTMENT SECURITIES | 24.3 | 27.4 | ||||
| NON-CURRENT DEFERRED INCOME TAX ASSETS | 16.2 | 19.0 | ||||
| OTHER ASSETS, NET | 12.8 | 16.2 | ||||
| TOTAL ASSETS | $ | 668.9 | $ | 614.5 | ||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||
| CURRENT LIABILITIES: | ||||||
| Current portion of long-term debt | $ | 5.0 | $ | 4.6 | ||
| Convertible debt | 180.4 | — | ||||
| Accounts payable and accrued expenses | 89.9 | 77.7 | ||||
| Deferred income | 66.6 | 55.9 | ||||
| Total current liabilities | 341.9 | 138.2 | ||||
| LONG-TERM DEBT | 28.3 | 31.0 | ||||
| CONVERTIBLE DEBT | — | 177.9 | ||||
| NON-CURRENT INCOME TAX LIABILITIES | 0.5 | 0.5 | ||||
| NON-CURRENT DEFERRED INCOME | 5.3 | 14.0 | ||||
| Total liabilities | 376.0 | 361.6 | ||||
| COMMITMENTS AND CONTINGENCIES | ||||||
| STOCKHOLDERS’ EQUITY: | ||||||
| Class A common stock | 0.4 | 0.4 | ||||
| Class B convertible common stock | 0.3 | 0.3 | ||||
| Additional paid-in capital | 446.8 | 422.2 | ||||
| Accumulated other comprehensive income | 1.4 | 2.4 | ||||
| Accumulated deficit | (156.0) | (172.4) | ||||
| Total stockholders’ equity | 292.9 | 252.9 | ||||
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | 668.9 | $ | 614.5 | ||
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News
Former WWE Star Reveals How Company Tests Wrestlers for an “Attitude Problem”
A former WWE star took to social media to explain, in brief, how WWE evaluates its talent to determine whether they have an “attitude problem.” The post offered a glimpse into the company’s behind-the-scenes vetting process, suggesting that behavior and professionalism are actively monitored during a wrestler’s time with the promotion.
While the explanation was limited, the revelation underscores WWE’s focus on maintaining locker-room culture and managing talent dynamics. Fans and industry observers may read the post as further evidence that character and conduct behind the curtain can be as consequential as in-ring performance.
Originally reported by Wrestling Inc.: https://www.wrestlinginc.com/2171344/wwe-tests-wrestlers-attitude-problem-dijak-oba-femi/.
Chairshot Radio Network
Launched in 2017, the Chairshot Radio Network presents you with the best in sports, entertainment, and sports entertainment. Wrestling and wrestling crossover podcasts + the most interesting content + the most engaging hosts = the most entertaining podcasts you’ll find!
MONDAY - Bandwagon Nerds (entertainment & popular culture)
TUESDAY - 4 Corners Podcast (sports)
WEDNESDAY - The Greg DeMarco Show (wrestling)
THURSDAY - Nefarious Means
FRIDAY - DWI Podcast (Drunk Wrestling Intellect)
SATURDAY - The Mindless Wrestling Podcast
SUNDAY - 30 Mindless Minutes
CHAIRSHOT RADIO NETWORK PODCAST SPECIALS
Attitude Of Aggression Podcast: The Big Five Project (chronologically exploring WWE's PPV/PLE history) Unidentified History (Ufology) & Game Gone Wrong (Game of Thrones Universe)
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WWE Backlash Match Sparks “Clone War” Debate in Wrestling Community
Wrestling fans and insiders are abuzz after a match at WWE Backlash was accused of “copycatting” a formula previously used by an independent wrestler, a situation some are calling a new “clone war” in the industry. The controversy highlights growing concerns about creative overlap between major promotions and the indie scene.
The debate raises questions about originality and recognition, with observers wondering whether mainstream companies should acknowledge or adapt indie ideas more transparently. As the story spreads, fans and performers alike are watching to see how promotions handle influence, credit, and creative borrowing moving forward.
Originally reported by Wrestling Inc.: https://www.wrestlinginc.com/2174560/wwe-backlash-danhausen-clone-lifted-elements-independent-show/
Chairshot Radio Network
Launched in 2017, the Chairshot Radio Network presents you with the best in sports, entertainment, and sports entertainment. Wrestling and wrestling crossover podcasts + the most interesting content + the most engaging hosts = the most entertaining podcasts you’ll find!
MONDAY - Bandwagon Nerds (entertainment & popular culture)
TUESDAY - 4 Corners Podcast (sports)
WEDNESDAY - The Greg DeMarco Show (wrestling)
THURSDAY - Nefarious Means
FRIDAY - DWI Podcast (Drunk Wrestling Intellect)
SATURDAY - The Mindless Wrestling Podcast
SUNDAY - 30 Mindless Minutes
CHAIRSHOT RADIO NETWORK PODCAST SPECIALS
Attitude Of Aggression Podcast: The Big Five Project (chronologically exploring WWE's PPV/PLE history) Unidentified History (Ufology) & Game Gone Wrong (Game of Thrones Universe)
Chairshot Radio Network Your home for the hardest hitting podcasts... Sports, Entertainment and Sports Entertainment!
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