World Wrestling Entertainment (WWE) just reported a 37% drop in its third quarter profits to $5.3 million, or 7 cents per share, compared with $8.4 million, or 12 cents per share, in the prior-year period.

The company’s consumer product revenue did well, climbing to $26.6 million from $19 million, while revenue from WWE Studios, previously known as WWE Films, slumped to $5.6 million from $12.8 million.

Management reiterated its committment to managing its business in a manner that is consistent with maintaining the company dividend as well as hitting its long-term financial objectives.

The Bottom Line
We had removed shares of WWE from our “Recommended” list back on Oct.15, when the shares traded at $15.24. The company has a dividend yield of 10.43%, based on last night’s closing stock price of $13.80. We have been concerned that the company would start to feel the effect of the consumer slowdown, and this quarter proved it. We would like to watch the stock stabilize as well as profits before we get excited about getting back in the wrestling ring.

World Wrestling Entertainment (WWE) is not recommended at this time, holding a Dividend.com Rating of 3.4 out of 5 stars.