November 4, 2019 Observer Newsletter: WWE financials, Crown Jewel, more

We’ll have a more detailed look next week, but the WWE financial numbers, while beating profit estimates, indicated far more core business declines.

Still, it was more a combination of uncertainty regarding what were expected to be lucrative new contracts in the U.K., India and Middle East as that were talked about more when it came to the huge stock decline after the numbers came out.

WWE stock fell $10,40 per share to $56.04, leaving the company with a market value of $4.408 billion.

The key area of concern to me would be the WWE Network and really all business metrics that involve actual consumer spending.

For the third quarter, the WWE grossed $186,383,000 in revenue and turned a $5,862,000 profit. During the same period last year the company grossed $188,391,000 and turned a $33,691,000 profit. The gross was down even though all the television deals were up. Wall Street was not expecting any profit, but was expecting $192 million in revenue.

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