WWE Reports $255.8 Million Revenue For Third Quarter 2021
More money made than expected
WWE have reported its Third Quarter financial results for 2021, revealing revenue of $255.8 million.
A press release that has gained more attention in the wake of the release of 18 wrestlers across the main roster and NXT just hours following the announcement, WWE have confirmed that the company's revenue for the Third Quarter 2021 saw an increase of 15 per cent, or $34.2 million.
Vince McMahon, WWE Chairman and CEO, said: "During the third quarter, we returned to live event touring with record average attendance, driving our better-than-expected performance.
"Even with only one large-scale international event due to COVID-related circumstances, we will exceed our previous financial guidance given the overall strength in each of our business lines. We think our performance highlights the strength of our brand globally and supports our belief that we are well-positioned to maximize the value of our content and drive long-term shareholder value."
WWE Chief Financial Officer Kristina Salen would confirm in the press release that WWE's revenue for the Quarter was better than expected, so much so that the company has adjusted its OIBDA 2021 - the metric which projects how much money the company will make.
Salen said: "In the quarter, our better-than-expected revenue of $255.8 million and Adjusted OIBDA of $77.9 million reflected robust demand for our live events as we returned to touring and attracted average attendance above 2019 levels.
"Even with only one large-scale international event this year, we are raising our full-year 2021 Adjusted OIBDA guidance to a range of $305 million to $315 million."
The full press release regarding WWE's Third Quarter Financials can be found here.