Vince McMahon Comments on the Release of WWE’s 2013 First Quarter Earnings Report

Nick Paglino

Vince McMahonWWE's corporate site has issued a press release containing 2013 first quarter earnings results, and Vince McMahon had the following to say in the release:

"In the first quarter, our performance reflected investments to enhance our brand strength, which we view as a critical determinant of our long-term growth," stated Vince McMahon, Chairman and Chief Executive Officer. "Operating metrics such as pay-per-view buys and live event attendance, which are key leading indicators, continued to show improvement. Demonstrating the ongoing demand for WWE content, we successfully staged WrestleMania in April, which attracted more than 80,000 fans and is expected to deliver more than one million pay-per-view buys globally, ranking the event as the highest grossing and most profitable pay-per-view event in our history. Looking ahead, we are confident that we can leverage this demand to transform our business."

"Several anticipated factors contributed to the decline in our first quarter OIBDA results, which – while down – were essentially in-line with our guidance. These factors included investments in our content production and talent, lower profits from home entertainment and weakness in international licensing sales," added George Barrios, Chief Financial Officer. "Based on our assessment of these factors, we continue to believe that our results, excluding the impact of the film impairment associated with Dead Man Down, will fall within the range previously communicated, which was 'plus or minus 10 percent' from our 2012 OIBDA results."

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