WWE Financials: WWE Reports $8 Million Loss

WWE reported their first quarter 2014 financials this morning. For the quarter, the Company reported a Net loss of $8.0 million, or $0.11 per share, compared to Net income of $3.0 million, or $0.04 per share, in the first quarter last year. The loss was mainly due to the launch of the WWE Network, and lower results from its video game licensing business, which was due primarily to the transition to a new licensee. The total revenue for the quarter was $125.6 million, which is up slightly from this time last year’s $124 million. Vince McMahon stated the following on the results…

Vince McMahon: “For the quarter, our earnings reflected the launch of our WWE Network, which delivers unparalleled depth of programming, ease of use and value to our fans. With almost 670,000 WWE Network subscribers in the U.S. and nearly 400,000 domestic pay-per-view buying homes for WrestleMania 30, we are confident that we will reach our goal of 1 million subscribers by the end of 2014. To drive WWE Network subscriber growth, we are highly focused on further developing our programming, expanding distribution platforms and executing customer acquisition campaigns. The expansion of WWE Network in the U.S. and international markets will provide a platform for long-term growth over the coming years.”

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