World Wrestling Entertainment Inc. (WWE) on Friday issued a fourth-quarter earnings outlook that missed analysts' expectations, news that sent the media and development company's shares lower.
WWE's shares slid 6.7% to $12.60 in after-hours trading.
The company, formerly known as World Wrestling Federation Entertainment, projected fourth-quarter earnings of 8 cents to 10 cents, below the 16-cent profit estimated by analysts polled by Thomson Reuters.
WWE has reported a decline in revenue the past two quarters, hurt by continued softness in the economy, as well as changes in the company's talent base. The company's largest segment--the live and televised entertainment--has been especially hurt in recent quarters. WWE in November said that based on its history of developing talent and creating content with broad appeal, it was confident it could address those creative challenges. Full results are due on Feb. 10.
source: online.wsj.com
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January 22, 2011
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