WWE stock takes a hit following their first-quarter earnings report.
When the market closed today, WWE stock was at $85.38 per share. The final drop today was a 13.35 percent decrease from yesterday, which closed at $98.50. The high today was $93.37. The stock opened at $90.00 at 9 am, just after WWE announced their first quarter financials, which saw them reveal a revenue loss compared to last year.
This morning, WWE reported that revenues were $182.4 million as compared to $187.7 million in the prior year quarter. Furthermore, operating income reflected a loss of $6.8 million as compared to income of $21.8 million in the prior year quarter.
Vince McMahon said of the first quarter loss, “During the quarter, we continued to execute our strategy and achieved targeted financial results. While engagement metrics over the past two quarters were impacted by Superstar absences, we believe they will improve as our talent return and we launch our new season following a successful WrestleMania. We remain excited about the future, particularly with our debut on Fox in October.”
WWE stock was over $100 earlier this week.
You can view full highlights from today's earnings call by clicking here.