WWE News: WWE Second Quarter Earnings Report Released, Record Revenue

Published

6 years ago

July 26, 2018

World Wrestling Entertainment, Inc. Consolidated Income Statements (In millions, except per share data) (Unaudited)

	Three Months Ended June 30,				Six Months Ended June 30,
	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
	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

Let us know what you think on social media @ChairshotMedia and always remember to use the hashtag #UseYourHead!

Mitchell’s AEW Continental Classic Update! (11/27/23)

What a start to the tournament!

Published

6 months ago

November 27, 2023

Steven Mitchell

Did your picks win points?

The AEW Continental Classic is underway, with almost everyone competing. Check in here if you haven’t seen the winners and losers of week 1!

Here are your Gold League standings!

Jon Moxley: 1-0, 3 points
Swerve Strickland: 1-0, 3 points
Jay White: 1-0, 3 points
Rush: 0-1, 0 points
Mark Briscoe: 0-1, 0 points.
Jay Lethal: 0-1, 0 points

Here are your Blue League standings!

Brody King: 1-0, 3 points
Claudio Castagnoli: 1-0, 3 points
Daniel Garcia: 0-1, 0 points
Eddie Kingston: 0-1, 0 points
Bryan Danielson: Yet to Compete
Andrade El Idolo: Yet to Compete

My Thoughts:

Nothing too crazy, nothing too wild, this tournament only just got started. The only disappointing point is that they could not get Bryan “cleared to compete” Saturday night. Not sure how much of that is shoot given the bad eye, but this was kinda the problem of wanting him in the tournament over tons of other choices. Bryan wants to face Okada for WrestleKingdom 18, how is Bryan supposed to do that at his best if he’s also gonna be in a round robin, doing five top level matches in about as many weeks? And it takes away from Andrade being able to do something. Also a little surprised we didn’t even hear from Andrade on Saturday.

Now as we heard on Saturday, round two’s matches are set. Gold League will see Mark Briscoe VS Rush, White VS Swerve, and of course, Moxley VS Lethal. Nice variety there, a couple 0-1 guys facing off, as well as two 1-0 guys, and then 1-0 VS 0-1. No offense to Lethal, but he feels like an 0-2 going up against Moxley. Hard to call the other ones but that’s the fun of it. Meanwhile, Blue League sees Brody VS Claudio in a showdown to be 2-0, then Bryan and Andrade finally jump in, Bryan against Eddie and Andrade against Garcia. Sadly, feels like Eddie and Garcia are going 0-2, no way Tony Khan is booking Bryan and Andrade to lose their first shots.

In fact, that could be half the reason they did wait on those two, that’s almost too good for just a first round opener. But I still would’ve done it, same as NJPW does stuff like that for round robins, which this is all modeled after anyway.

Let us know what you think on social media @ChairshotMedia and always remember to use the hashtag #UseYourHead!

AEW Coverage

AEW announces Continental Classic entrants

The C2 is set!

Published

6 months ago

November 22, 2023

Steven Mitchell

Tony Khan Reveals the Blue and Gold “Leagues!”

Originally livestreamed, Tony Khan and Tony Schiavone officially announced the twelve total entrants and divided them into the two round robin blocks known as the “Blue League” and “Gold League.” If you don’t feel like sifting through the almost 30 minute video, the groups are:

Blue League

Bryan Danielson
Andrade El Idolo
Brody King
Claudio Castagnoli
Daniel Garcia
Eddie Kingston

Gold League

Jon Moxley
Swerve Strickland
Rush
Mark Briscoe
Jay Lethal
Jay White

Tony Khan also explains the rules for the Continental Classic:

Every match has a 20 minute time limit
The winner of each match earns 3 points, losers earn 0, 1 point for a draw
EVERYONE ELSE is banned from ringside for true 1v1 action

Eddie Kingston also joined the selection special as his “life’s work” is on the line in this tournament, both the ROH World Championship and NJPW Strong Openweight Championship on the line as part of the modern day North American Triple Crown Eddie, Tony Khan, AEW, ROH and NJPW are looking to create together. Gold League competes tonight on Dynamite while Blue League will have their start this Saturday on Collision. Look for more articles like this one to keep up with the Continental Classic standings over the next six weeks of tournament action!

Let us know what you think on social media @ChairshotMedia and always remember to use the hashtag #UseYourHead!