WWE’s third-quarter report was released today and the big story is that WWE’s net income dropped by 83%! This news got analysts talking and drilling down the numbers, to find out why this is the case.
The Wrap's Tony Maglio had the following to say on the big drop.
"WWE Network had 1.51 million average paid subscribers in #Q3, down 9% from the prior year.
That 20,000 fewer than management expected. WWE now expects a decline to 1.43 million in Q4, which would be a 10% drop year over year.
I charted every quarter of #WWENetwork’s average paid subscribers since in launched in Feb. 2014 here if you wanna see that WWE’s net income dropped 83% from last #Q3 to this one. That’s due to performance and fewer tax benefits.
That’s a big number on a percentage basis, but we’re dealing w/ relatively light income to begin with ($33.6 million to $5.8 million), which makes it look so dramatic.
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