Wall Street reacted somewhat positively – at least so far – to today’s WWE earnings results after profit that beat expectations but revenue that missed targets.
WWE stocks finished the day trading at $74.97, an increase of 9% over yesterday’s closing. Despite all this, WWE stock is down 20% over a three month period.
Overall revenue fell 4.5% with media revenue falling 3% and live events revenue down 7%. Live event attendance was down 2% and consumer products also down a whopping 13%. Despite all the negatives, WWE is still targeting a revenue of approximately $1 billion for the year 2019 which would be a record.
Television ratings were not pretty either with Raw going down 14% and Smackdown 11% year-over-year.