The

World Wrestling Federation

(WWF)

reported third-quarter earnings that beat Wall Street's slightly raised estimates by a penny, but income fell from a year ago, partly because of costs associated with the start of the XFL, the new professional football league.

For the third quarter ended Jan. 26, the WWF earned $11.7 million, or 16 cents a share, including start-up costs for the XFL. In the year-ago period, WWF earned $15.7 million, or 23 cents a share. Four analysts surveyed by

First Call/Thomson Financial

expected the company, which is based in Stamford, Conn., to earn 15 cents a share.

The company posted third-quarter revenue of $111.2 million, up 13% from $98.4 million in the same quarter one year ago.

Shares of the WWF gained 46 cents, or 3%, to $15.60 in recent

New York Stock Exchange

trading.