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by Eamon Reiser
World Wrestling Entertainment Inc. is scheduled to report its third-quarter earnings after the market close on Wednesday. Here’s what you need to know.
Net Income: The Stamford, Conn.-based media and entertainment company is expected to report net income of $42.2 million, or 50 cents a share, down 3% from $43.5 million, or 52 cents a share, a year earlier. to the fact set. Adjusted for certain one-time items, adjusted earnings are expected to be 48 cents per share.
Sales: WWE expects third-quarter sales of $283.1 million, up 10.7% from the same period last year.
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Viewerships: Pay-per-view matches continue to increase revenue for home viewers, especially following a licensing deal that expands the WWE Network to streaming platform Peacock, a division of Comcast Corp.’s NBCUniversal. During the second quarter, WWE touted rising ratings, culminating in the highest-rated SummerSlam episode since March 2020, with 2.2 million viewers. Co-CEO Nick Khan previously stated that WWE expects to see another influx of audiences in the second half of the year.
Consumer Goods: WWE merchandise is another potentially sizable source of sales for the company. Its line of trading cards with Panini, which has partnered with other professional leagues including the NFL and National Basketball Association, has already surpassed full-year guidance in the first half of 2022. The company said it expects additional product declines to provide more revenue growth.
Live Events: WWE Live Event tickets have proven to be a hot commodity in fiscal 2022 as fans snap up seats at historic prices. WWE’s current chief content officer Paul Levesque said on the company’s second-quarter earnings call that the company has never sold as many tickets as WrestleMania without a full schedule in 40 years. The company takes advantage of its well-attended events by tailoring its catalogue based on where it is sold. Khan added that merchandise with event-, location- and storyline-specific designs has made in-store sales a revitalizing business for the company.
Write to Emon Reiser at emon.reiser@wsj.com
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