World Wrestling misses by $0.10, misses on revs; guides FY19 revs in-line
- Reports Q1 (Mar) loss of $0.11 per share, $0.10 worse than the S&P Capital IQ Consensus of ($0.01); revenues fell 2.8% year/year to $182.4 mln vs the $199.24 mln S&P Capital IQ Consensus.
- Co issues in-line guidance for FY19, sees FY19 revs of ~1.0 bln vs. $1.03 bln S&P Capital IQ Consensus
- For the second quarter 2019, the Company estimates Adjusted OIBDA of $19 million to $24 million.6 This range of results represents a year-over-year decline in Adjusted OIBDA driven by increases in fixed costs, including the timing of strategic investments
- Achieving the targeted range of full year results assumes substantial revenue, which supports Adjusted OIBDA of at least $100 million in the fourth quarter
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