WWE 2020 Quarter 4 highlights from Thursday’s Conference Call

Below are the 2020 Quarter 4 Financial Highlights from Thursday’s Conference Call

– Network subscribers increased 6 percent and is currently at 1.5 million.

– Construction on the new offices will be in the second half of 2021, with the cost expecting to run between $65-85 million.

– The company has worked out a deal with “a major sports league” to do championship belts with team logos based on how they send WWE title belts to championship winning teams. 

– Operating income was down 64 percent year-over-year from 2019’s $99.8 million in Q4 2020. Event revenue was down 97 percent year-over-year in Q4.

– Consumer revenue was down 12 percent year-over-year to $27 million, down from $30.8 million in 2019’s Q4.

– Cash and short term investments grew to $593.4 million, up from $250.4 million in 2019’s Q4.

Source: FW4Online