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DJ WWE Shares Dip 4% On Steep Drop In Revenue -- MarketWatch

· 02/04/2021 16:59
For more from MarketWatch: http://www.marketwatch.com/newsviewer

Shares of World Wrestling Entertainment Inc. (WWE) were down 4% in after-hours trading Thursday after the sports-entertainment company reported (https://corporate.wwe.com/investors/news/press-releases/2021/02-04-2021-211020204) 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.

-Jon Swartz

(END) Dow Jones Newswires

February 04, 2021 16:59 ET (21:59 GMT)

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