World Wrestling Entertainment Inc. (WWE - Free Report) came out with second-quarter 2015 earnings of 7 cents that fared way better than loss per share of 18 cents reported in the prior year quarter. Results were favorably impacted by increase in WWE Network subscriber base, higher TV rights fees and sturdy sales of the company’s franchise video game.
WWE Network subscribers increased 75% to more than 1.2 million from the year-ago quarter.
Revenues of $150.2 million were down 4% from the year-ago figure of $156.3 million due to the timing impact of WrestleMania.
During the quarter, World Wrestling Entertainment launched a new YouTube video gaming channel UpUpDownDown. The company hopes that this new channel will be able attract gaming enthusiasts from all round the globe, thus increasing its subscriber count.
Moreover, Management is executing a five-part strategy to strengthen and expand the WWE Network which includes creation of new content, implementation of programs which will have higher customer attraction and retention power, introduction of new features, expansion of distribution platforms and entering into new regions.
Currently, World Wrestling Entertainment carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.
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