WWE stock took a hit today due to the 2019 Q3 earnings report.

Stock was down 15.65% today, closing at $56.04 per share. Today’s high was $60.00 and the low was $53.25, a new 52-week low.

Seeking Alpha noted that WWE stock was down after revenues declined and missed expectations in Q3, and revenues fell to $186.3 million from $188.4 million, operating income fell to $6.4 million from $18.1 million amid the lower revenue and higher fixed costs, and net income fell to $5.8 million from a previous $33.6 million. Investor Place noted that WWE stock took a beating on Thursday, “despite its diluted earnings per share of 6 cents, which beats out Wall Street’s estimate of 2 cents. The bad news is that revenue of $186.30 million is well below analysts’ estimates of $191.43 million.”

Seeking Alpha has a look at why the stock is down at this link and Investor Place has a look at why the stock is down at this link.