graphic
News > Companies
WWF 4Q beats Street
June 28, 2001: 10:32 a.m. ET

XFL failure slams net results; WWF sees 8%-10% revenue growth in '02
graphic
graphic graphic
graphic
NEW YORK (CNNfn) - World Wrestling Federation Entertainment Inc. reported a fiscal fourth-quarter loss Thursday that was a little narrower than Wall Street expected, though it took a big hit on the failure of the XFL football league.

graphic  
Stamford, Conn.-based WWF said it lost $20.4 million, or 28 cents a share, in the quarter ended April 30. Wall Street analysts polled by earnings tracker First Call expected WWF to lose 30 cents a share. The company earned $10.1 million, or 15 cents a share, a year ago.

Included in this quarter's results was a loss of $37.4 million, or 51 cents a share, from the defunct XFL football league.

The XFL was a joint venture of WWF and NBC Sports, but its combination of flashy graphics, scantily clad cheerleaders and sloppy football failed to capture the nation's imagination, and the league died after its inaugural campaign.

WWF, which recently bought chief competitor World Championship Wrestling -- formerly a unit of CNNfn parent company AOL Time Warner (AOL: up $0.16 to $52.84, Research, Estimates) -- comforted investors with projected 2002 of revenue growth of 8 percent to 10 percent, estimated attendance at wrestling events of 3 million, and 8 million pay-per-view purchases.

WWF (WWF: up $0.31 to $13.05, Research, Estimates) shares began trading Thursday near the low end of their 52-week range. graphic

  RELATED STORIES

WWF drops XFL - May 10, 2001

WWF buys World Championship Wrestling - March 23, 2001

  RELATED SITES

WWF


Note: Pages will open in a new browser window
External sites are not endorsed by CNNmoney




graphic


Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.