WWE shares dip 4% on steep drop in revenue – MarketWatch

Shares of World Wrestling Entertainment Inc.

were down 4% in after-hours trading Thursday after the sports-entertainment company reported a significant drop in fiscal fourth-quarter revenue. WWE reported net income of $13.6 million, or 16 cents a share, compared with net income of $69.3 million, or 78 cents a share, in the year-ago quarter. Revenue dove 28% to $238.2 million from $322.8 million a year ago because of a pandemic that deprived it of live events. Analysts surveyed by FactSet had expected net income of 28 cents a share on revenue of $246 million. WWE shares are up 25% over the last 12 months. The broader S&P 500 index

has improved 16% in the last year.

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