WWE Stock Down Over $10 After Third Quarter 2019 Earnings Call
On the day that WWE reported losses in live event revenue and merchandise and missed all their projections in revenue, their stock dropped $10.40, or 15%. It now sits at just over $56 a share, near its 52 week low of $53.25. The company did beat profit expectations, but still lowered their outlook for the coming months.
Vince McMahon and other top executives were not on the financial call this morning due to WWE holding Crown Jewel this afternoon. With ratings continuing to decline on top of these figures, it will be interesting to see how the company tries to right the ship just as they settle into their new norm on FOX and USA.