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May 6, 2019 Observer Newsletter: WWE earnings report, Brock Lesnar, more

Before the 4/25 WWE earnings report, analysts who, for average, pegged the stock value at $105 or greater per share, noted that the company would likely lose money in the first quarter and it was nothing to worry about given the new TV contracts and huge profits coming in October.

So what happened?

First, the company greatly missed on analysts predictions, falling $15 million to $17 million short on revenue, and losing about $8.4 million during the quarter as opposed to the $700,000 to $800,000 loss number that was projected.

The stock, which earlier in the week topped the magic $100 per share mark, closed on 5/1 at $82.63 per share. It had a big decline after the telling results of the quarter, which continued for a few days. It started coming back but then fell another $1.22 per share on 5/1 after the announcement of the Saudi Arabia show. It left the company with a market value of $6.449 billion.

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