World Wrestling Posts Profit in Fiscal Quarter
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Overseas demand for smack-down action helped World Wrestling Entertainment Inc. post a net profit in its fiscal fourth quarter contrasted with a year-ago loss, the company said, despite a fall in domestic ratings and flat advertising revenue.
The company said it posted net income of nearly $16 million, or 22 cents a share, contrasted with a loss of $20.4 million, or 28 cents, a year earlier that came in part from writing off its failed XFL pro football league.
Shares of the Stamford, Conn.-based company rose nearly 4%, or 51 cents, to $14.20 on the NYSE.
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