May 4, 2012 | last updated June 1, 2012 2:21 pm

Stamford's WWE pins higher 1Q profits

Stamford live-action promoter WWE nearly doubled first-quarter profits on strong sales, boosted by its entry into the Middle East and the global pay-TV success of recent Wrestlemania Miami.

For three months ended March 31, WWE netted $15.3 million, or 20 cents a share, up from $8.6 million, or 11 cents a share, netted the same quarter a year ago.

First-quarter revenues were $123.1 million vs. $119.9 million last year.

CEO Vince McMahon said WWE.com's online operation contributed higher ad revenues and rights fees, while the film-studio division continued to drag on operating results.

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