World Wrestling Entertainment (WWE) reported quarterly earnings results on Tuesday, May-10-2016. The company said it had a profit of $0.18 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.07. Analysts had a consensus of $0.11. The company posted revenue of $171.10 million in the period, compared to analysts expectations of $168.41 million. The company’s revenue was down -2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 EPS.
Many Wall Street Analysts have commented on World Wrestling Entertainment. Pacific Crest Initiated World Wrestling Entertainment on Mar 29, 2016 to “Overweight”, Price Target of the shares are set at $22.
World Wrestling Entertainment opened for trading at $16.8 and hit $17.24 on the upside on Friday, eventually ending the session at $17.13, with a gain of 1.96% or 0.33 points. The heightened volatility saw the trading volume jump to 4,21,309 shares. Company has a market cap of $1,301 M.
In a different news, on Dec 3, 2015, Stephanie Levesque (Chief Brand Officer) sold 49,733 shares at $17.30 per share price. According to the SEC, on Aug 21, 2015, Michael J. Luisi (President, WWE Studios) sold 25,000 shares at $20.75 per share price. On Aug 12, 2015, Basil V. Jr. Devito (Sr. Advisor, Bus. Strategies) sold 4,100 shares at $21.75 per share price, according to the Form-4 filing with the securities and exchange commission.
World Wrestling Entertainment Inc. (WWE) is a media and entertainment company. The Company is involved in the sports entertainment business. The Company develops content through network television online and its live events. The Company operates in 10 segments: Network Television Home Entertainment Digital Media Live Events Licensing Venue Merchandise WWEShop WWE Studios and Corporate and Other. Its network segment includes its pay-per-view business. Its WWE Network is available approximately in 170 countries and territories. The Companys television programs are viewed in over 170 countries and 35 languages across the world. The Companys home entertainment titles are sold through retailers as well as subscription and transactional on-demand outlets. WWE also markets and distributes content and digital products and sells online advertising. WWEs venue merchandise segment is involved in designing sourcing marketing and distributing of various branded products.