Stock Alert: World Wrestling Entertainment Stock Falls

(RTTNews) - Shares of World Wrestling Entertainment, Inc. (WWE) are losing almost 13 percent in the morning trade on Thursday, to $42.66. The stock has been trading in a range of $40.24 to $100.45 in the past 52 weeks.

For the fourth quarter, the company reported lower-than-estimated revenue. WWE Network's paid subscribers dropped 10 percent to about 1.42 million on lower subscriber additions this year.

World Wrestling's net income for the fourth quarter increased to $69.3 million or $0.78 per share, from $41.2 million or $0.46 per share in the year-ago period.

Net revenues for the quarter also climbed 18 percent to $322.8 million from $272.5 million in the year-ago period. On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.73 per share for the quarter on revenues of $333.28 million. Analysts' estimates typically exclude special items.