Stock Alert: WWE Stock Up 12% In After-Hours On Strong Q1

(RTTNews) - Shares of World Wrestling Entertainment Inc. (WWE) rose over 12% in after-hours on April 23, following the company's strong Q1 results.

The company reported Q1 net income of $26.2 million or $0.31 per share compared to a loss of $8.4 million or $0.11 per share last year.

Excluding the impact of the equity investment impairment charges, adjusted net income increased to $34.9 million or $0.41 per share, due to improved operating performance. Analysts polled by Thomson Reuters expected earnings of $0.25 per share for the quarter. Analysts' estimate typically exclude certain special items.

Revenues climbed 60% to $291.0 million from $182.4 million generated a year ago, primarily due to increased monetization of content in the Media segment, which was partially offset by a reduction in live event ticket revenue and lower merchandise sales.

The company continues to believe its growth prospects remain strong and that "WWE is well positioned to take full advantage of the changing media landscape and increasing value of live sports rights over the longer term."

The stock has been trading in the range of $29.10 - $93.37 for the past one year, and closed Thursday's trade at $39.07, down 41 cents or 1.04%. WWE gained $4.73 or 12.11% in the after-hours trading session.