WWE sees FY19 revenue of approx. $1B, consensus $1.03B
The company said, "In 2019, WWE management is targeting another year of record revenue of approximately $1B and, as previously communicated, Adjusted OIBDA of at least $200M, which would also be an all-time record. Achieving the targeted range of full year results assumes substantial revenue, which supports Adjusted OIBDA of at least $100M in the fourth quarter. Importantly, the Company's new content distribution agreements in the U.S., which become effective in that period, provide significant visibility into that expectation, and moreover, into the strong year-over-year growth that is anticipated in 2020. Management believes that increasing fan engagement over the next few years can enhance WWE's brand value and strengthen the Company's long-term growth. Supporting these objectives, the Company plans to continue to invest in content, digitization and international development. Key areas of investment for 2019 include strengthening WWE's talent base, delivering more localized content, developing the next iteration of the WWE Network service, and leveraging fan data to improve business performance. In 2019, management will continue to evaluate WWE's financial performance and to balance current earnings with investments that strengthen engagement and drive long-term growth."