World Wrestling Entertainment, Inc. Stock Up on Q4 Earnings Beat

WWE beat EPS estimates by one penny

World Wrestling Entertainment, Inc. (NYSE:WWE) stock was up today following the release of its earnings report for the fourth quarter of 2017.

World Wrestling Entertainment, Inc. Stock Up on Q4 Earnings Beat
Source: Shutterstock

World Wrestling Entertainment, Inc.’s most recent earnings report includes earnings per share of 20 cents. This is an increase over its earnings per share of 10 cents from the same time last year. It also beat out Wall Street’s earnings per share estimate of 19 cents for the period.

Net income reported by World Wrestling Entertainment, Inc. for the fourth quarter of the year was $4.8 million. This is down from its net income of $8 million reported in the fourth quarter of 2017. However, WWE notes that it suffered a one-time charge of $11.3 million in connection to the new tax reform law.

During the fourth quarter of 2017, World Wrestling Entertainment, Inc. reported operating income of $27 million. The entertainment company reported operating income of $13.90 million in the same period of the year prior.

World Wrestling Entertainment, Inc. reported revenue of $211.60 million for the fourth quarter of the year. This is better than its revenue of $194.90 million from the same quarter of the previous year. It also came in above analysts’ revenue estimate of $208.55 million for the quarter.

World Wrestling Entertainment, Inc. also provided an outlook for 2018 in its most recent earnings report, but was vague with expectations. The company says it is expecting record revenue in 2018 and didn’t provide earnings per share estimates. Wall Street is looking for revenue of $840.58 million and earnings per share of 70 cents for the year.

WWE stock was up 1% as of Thursday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.

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