World Wrestling Entertainment, Inc. Reports 2007 First Quarter Results

WWE announced its 2007 First Quarter financials this morning. Here is an excerpt from the official company press release:

World Wrestling Entertainment, Inc. Reports 2007 First Quarter Results

Revenue Increase of 13%

Thursday May 3, 8:30 am ET

STAMFORD, Conn.–(BUSINESS WIRE)–World Wrestling Entertainment, Inc. (NYSE:WWE – News) today announced financial results for its first quarter ended March 31, 2007. Revenues totaled $107.4 million as compared to $95.1 million in the comparable prior year quarter. Operating income was $20.6 million as compared to $14.3 million in the prior year quarter. Net income was $15.1 million, or $0.21 per share, as compared to $9.5 million, or $0.13 per share, in the prior year quarter.

“We are very pleased with our results for the first quarter of 2007 as revenue continues to show year-over-year growth,” stated Linda McMahon, Chief Executive Officer. “In addition to the increase in revenue, many of our key metrics, which illustrate the overall presence of our products in the marketplace, continued to improve. Also in the quarter, we expanded our wireless presence with an exclusive mobile content agreement with AT&T, which will provide our fans wireless access to everything WWE,” continued Mrs. McMahon.

“Subsequent to the quarter we experienced tremendous success with our sold-out WrestleMania® 23, which was witnessed by more than 80,000 fans live and achieved a record number of pay-per-view buys for WWE®. With successes like WrestleMania 23, we anticipate the remainder of 2007 to be just as exciting as the first few months have been,” concluded Mrs. McMahon.

The entire release, including several financial charts in their proper formatting, can be found at WWE.com (PDF file) or Yahoo! Finance (text only). Reuters, Marketwatch and the AP have already covered the news.

The conference call to discuss the quarter’s financials will take place at 11am EDT today. If you listen in (information on the call is here, along with a link to the company’s latest presentation), feel free to send notes to me by clicking the feedback link below.

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