World Wrestling Entertainment reports in-line 1Q EPS; revenue tops estimates

BOSTON, May 06, 2008 (Thomson Financial via COMTEX) -- WWE | news | PowerRating | PR Charts -- World Wrestling Entertainment Inc. Tuesday reported first-quarter net income of $19.5 million, or 27 cents a share, compared with income of $15.1 million, or 21 cents a share, in the year-earlier quarter.

The mean estimate of analysts polled by Thomson Reuters was for earnings of 27 cents a share.

Revenue for the three-month period ended March 31 rose to $162.6 million from $107.4 million a year ago. Wall Street analysts were, on average, forecasting sales of $131 million.

The Stamford, Conn.-based integrated media and entertainment company said its first-quarter results reflected the power of its premiere event, WrestleMania XXIV, while it continued to expand its global brand presence through its newly-established international offices.

During the first quarter, World Wrestling Entertainment also paid its first quarterly cash dividend of 36 cents a share.

The stock closed Monday at $18.37.

Greg Saulnier gs/vj

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