Reuters is reporting that World Wrestling Entertainment stock fell 15 percent on Monday after the Stamford-based entertainment company forecast 4th quarter earnings far below what Wall Street had expected.
WWE Chairman and CEO Vincent K. McMahon will present the 4Q earnings report before the market opens on Feb. 10. But the company said Friday that earnings will be in the range of 8 to 10 cents a share; analysts had been expecting an average of cents a share.
An analyst quoted in the Reuters piece, Michael Pachter of Wedbush Securities, attributed the company's lower than expected forecast to a slide in pay-per-view and live event sales, which together accounted for the bulk of the company's 2009 revenue.
Will any of this have an impact on the political plans of McMahon's wife, Linda McMahon? She spent about $50 million on her losing bid for U.S. Senate in 2010 and is said to be considering another run in 2012.