Source: PWInsiderAs noted late last night here on the website, World Wrestling Entertainment issued a press release Friday announcing lower-than-expected earnings when the organization releases fourth-quarter financial results on Feb. 10.
The company anticipates its earnings per share for the three months ended Dec. 31 will range from 8 cents to 10 cents. Analysts were estimating earnings of 17 cents a share. That's a huge drop obviously.
Shares in WWE stock slid $1.13 (8.4 percent), to $12.37 in aftermarket trading after falling 33 cents (2.4 percent) to $13.50 during the regular trading day. Again, that is a major drop.
The news has been picked up by The Associated Press, as well as the WallStreet Journal and TheStreet.com.
Some mid-card wrestlers are already wondering if a talent purge will soon take place since company officials told all of those that were released in November that they were let go due to budget cuts.
WWE dropped 35 main roster talents and 19 developmental talents over the course of 2010, marking the fifth consecutive year in which over 50 talent departures occurred within a calendar year.
We'll keep you posted.
Hulk Hogan Appearing On TV Shows This Monday To Talk Gawker, Sex Tape And Racist Comments
Josh Bredl On Triple H Calling Him A Fierce Competitor, Getting Props From WWE Legends, More
Sara Lee On Connecting With Fans, If She's Worried About The WWE Performance Center, Her Future
Triple H Tweets Photo From Meeting At WWE HQ, Book On WWE Legend Finally Coming Out, NXT - UK
Funny Video Of Triple H Having "Curtain Call" Fans Arrested, WWE NXT Headed To Nashville?, WWE Stock
Steve Austin Talks Getting Chewed Out By Vince McMahon After Brock Lesnar Talk, WrestleMania 32
WWE Monday Night RAW To Be Postponed Again Due To Storm? Arena Issues Statement
WWE RAW Segment Botched, Rumored Chris Benoit Movie Happening?, Backstage NXT Commentary News
Exclusive Details On How Sting Made Surprise WWE RAW Appearance, Why His Face Paint Was Smeared
Another New Member Of The Wyatt Family Coming?, Sasha Banks Banged Up, WWE - WWN Live Update
Backstage Talk On The Undertaker Vs. Brock Lesnar Finish From WWE SummerSlam
Mick Foley Slams Tough Enough Contestant For "Slut Shaming"