WWE reports second quarter results - Licensing.biz

WWE reports second quarter results

Licensing revenues from toys increase by $2.4m, but video games and music sales drop.
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WWE has revealed its financial results for its second quarter ending June 30th 2010.

Revenues totalled $106.8 million for the quarter, yielding operating income of $10.3 million and net income of $6.3 million.

Breaking it down into business segments, live and televised entertainment reported net revenues of $77.4 million; consumer products recorded $23.3 million; digital media $5.4 million; and WWE Studios $0.7 million.

Within consumer products, licensing revenues were $8.7 million, compared to $9 million in the prior year quarter, as lower video game and music sales more than offset increased toy sales.

Revenues related to video games and music declined by $3 million, while revenues from toys increased by $2.4 million in the current quarter.

"Our performance fell below management expectations as trends weakened in the latter part of the quarter," said Vince McMahon, chairman and CEO. "Looking ahead, we remain confident in our ability to address these challenges by producing compelling content and cultivating consumer demand."

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