World Wrestling Federation Entertainment reported a sharp drop in revenues and net income for its second fiscal quarter.
WWFE reported net income of $4.8 million revenues of $98.2 million for the quarter ended October 26, versus a net of $9.5 million on revenues of $111.9 million in the prior year's second quarter.
Total pay-per-view revenues for the quarter were $22.2 million. Buys for the quarter were 1.2 million as compared to 1.7 million last year. The company cited a decrease in the number of addresable households during the quarter as a factor in that downturn.
"We experienced some softness in our ratings, attendance, and pay-per-view buys during the quarter," Linda McMahon, WWFE CEO said in a statement.
Meanwhile, TV rights fees revenues increased 80% to $13.5 million, reflecting the impact from WWFE's Viacom deal.
- Richard Tedesco