WWE Stock Takes a Beating After Release of Q3 Financial Report
— As noted, WWE released their Q3 financial report and it seems Wall Street was not impressed with not only the numbers but WWE lowering their overall revenue outlook for the remainder of 2019. As a result, the WWE stock plummeted losing $10.40 on the day, a drop of approximately 15%, closing at $56.04. It actually bottomed out during the day at $53.25 before recovering towards market close. Things will no doubt get better in Q4 as the company’s new and lucrative TV deals with FOX (for Smackdown) and USA (for Raw) kick in.
— WWE also acknowledged the decreasing ratings for Raw and Smackdown, though it should be noted that the numbers for WWE’s flagship shows fell at a smaller rate than the USA network as a whole and the other Top 25 cable networks.
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