Posted in: WWE Investors like WWE earnings, WWE secures big partnership, Live events update
By Brian Cantor
Nov 5, 2009 - 11:49:29 AM
-- As of press time, WWE's stock was trading at 14.14, which marks a 4.42% increase over yesterday's close. While the broader market was up by about 1.5%, a portion of the price rise can undoubtedly be attributed to WWE beating earnings estimates and forecasting solid growth going forward.
-- In a conference call for its own earnings statement, WWE videogame partner THQ confirmed that it has renewed its license with the wrestling company through 2014. Under terms of the deal, THQ will apparently develop more WWE titles to capitalize on additional market opportunities.
-- With PPV revenue down year-over-year for Q3, it was live event revenue that drove the noteworthy increase--revenue rose from $20.3 million to $27.2 million. A good portion of that increase can be explained by an additional 5 international events; higher foreign event revenue comprised for $5.8 million worth of the incrase.
