said second-quarter earnings plunged 74% from a year ago, mainly because of reduced revenue for its pay-per-view events.
The company earned $4.5 million, or 6 cents a share, in the quarter ended Oct. 29, compared with earnings of $17.1 million, or 25 cents a share, last year. Excluding earnings from discontinued operations, World Wrestling earned 4 cents a share in its latest quarter, missing the Thomson First Call consensus of 13 cents a share.
Revenue fell 11% from a year ago to $83.9 million, which was about $6 million short of forecasts. Pay-per-view revenue was $18.5 million in the latest quarter compared with $24.7 million a year ago, reflecting one fewer event in the most recent period.
The company forecast 2005 earnings from continuing operations of 46 cents to 50 cents a share on revenue of $345 million to $355 million. Analysts were expecting earnings of 55 cents a share on revenue of $367.5 million.
The stock closed Monday at $13.40.