WWE shares jump 12% on 60% jump in sales, fat profit [MarketWatch]
World Wrestling Entertainment, Inc. Class A (WWE)
Last world wrestling entertainment, inc. class a earnings: 4/23 04:10 pm
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Source: MarketWatch
World Wrestling Entertainment Inc. shares jumped more than 12% in after-hours trading Thursday after the sports-entertainment company reported fiscal first-quarter revenue and net income that beat Wall Street estimates. WWE reported net income of $26.2 million, or 31 cents a share. Revenue improved 60% to $291 million from $182.4 million a year ago. The company also suspended its $500 million buyback program, and said cuts to employee compensation and recent layoffs shaved $4 million in costs. Analysts surveyed by FactSet had expected earnings of 26 cents a share on sales of $272 million. WWE shares are down 54% in the last year. The broader S&P 500 index is down 4% in the last year.
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