On Thursday, World Wrestling Entertainment, Inc. (WWE) reported a net loss for the fourth quarter, missing analysts’ estimates.
WWE’s Earnings in Brief
WWE posted a net loss of $7.9 million, or 10 cents per share, compared to net income of $0.6 million, or 1 cent per share, a year ago.
Q4 revenue increased 3% to $118.4 million.
On average, analysts expected to see a net loss of 5 cents per share and $116.08 million in revenue.
The company reported an operating loss of $12.2 million, down from last year’s reported income of $2.6 million. The decline in income was primarily due to increased spending for staff, talent and marketing.
Vince McMahon, Chairman and CEO of WWE commented: ”During the past year, we laid the foundation for future growth and enhanced our brand strength. We have now announced the renewal of our television distribution agreement in the U.K., are continuing the negotiations regarding our domestic content, and are poised to launch our global WWE Network in the next few days. With preparations for WrestleMania 30 fully underway, we look forward to celebrating our enduring legacy and ushering in a new era as we blaze new trails in the media industry.”
WWE declared its most recent dividend on February 14. The dividend will be paid on March 25 to shareholders of record on March 14. The stock will go ex-dividend on March 12.
World Wrestling Entertainment shares were mostly flat during pre-market trading Thursday. The stock is up 38% YTD.
The Bottom Line
Shares of World Wrestling Entertainment, Inc. (WWE) have a 2.09% yield based on Wednesday’s closing price of $23.00.
World Wrestling Entertainment, Inc. (WWE) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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