10 Things We Learned From WWE's Q2 2016 Earnings

As mentioned previously, that record revenue figure is the headline that the WWE are leading with. But if we take a slightly closer look, the numbers aren’t quite as rosy.

We need to remember that revenue doesn’t take into account any costs—it’s purely a measure of the money coming in. And it’s no good making $199 million if you’re spending twice that amount in the process.

Luckily for the WWE, their costs aren’t anywhere near that high. But they’re still substantial enough to ensure that net income for the quarter—or, in other words, the profit that remains after taking away the many costs of doing business—is just $0.8 million.

And worse still, the figure for net income was significantly higher this time last year at $5.1 million, and in the first quarter of 2016 it was way up at $13.9 million.

So yes, revenues have soared to unprecedented levels. But the actual slice of the pie that the WWE can enjoy is really just a small fraction of that.