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World Wrestling Entertainment (WWE): Q4 2019 Earnings Snapshot

— World Wresting Entertainment (NYSE: WWE) reported fourth quarter 2019 earnings of $0.78 per share vs. $0.73 expected.

— Revenue rose 18% year-over-year to $322.8 million vs. $333.28 million expected.

— For FY20, WWE expects adjusted OIBDA in the range of $250 million to $300 million.

— WWE cautioned that the outcome of strategic initiatives it is taking to increase the monetization of content in 2020 and/ or subsequent years is subject to considerable uncertainty.

— Media segment revenue grew 29% in Q4 2019 to $264.6 million.

— Revenue from Live Events declined to $27.4 million from $34.4 million in the prior-year quarter.

— Revenue from Consumer Products decreased to $30.8 million from $32.8 million in Q4 2018, hurt by the lower video game royalties.

— WWE shares plunged to a new 52-week low ($40.24) in today’s morning session.

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