UPDATE: WWE Beats Q4 Estimates, Shares Surge

Shares of

jumped over 8% in pre-market trading after the company reported stronger-than-expected results for its fourth quarter. The Stamford, Connecticut-based company posted a quarterly net loss of $1.6 million, or $0.02 per share, versus a year-ago loss of $7.9 million, or $0.10 per share. Excluding non-recurring items, WWE lost $0.01 per share in the latest quarter, versus a year-ago loss of $0.10 per share. Its revenue climbed 19% to $140.5 million from $118.4 million. However, analysts were expecting a loss of $0.08 per share on revenue of $134.4 million. Network segment revenue climbed 64% in the quarter. WWE Network added 85,000 subscribers in the fourth quarter. Revenues from its media division gained 26% to $89.5 million, while live event revenue rose 6% to $26.9 million in the quarter. Revenue from consumer products businesses jumped 23% to $20.4 million, while WWE Studios posted revenue of $2.9 million versus $5.0 million. North American revenue climbed 23%, or $19.8 million, while revenue from outside North America gained 7% or $2.3 million in the same period. "During the quarter, we remained focused on growing WWE Network, which surpassed 1 million subscribers in January 2015, just 11 months after launch. Subscriber growth was driven by a successful free November promotion, the launch of the service in the UK and the strength of our Royal Rumble event," stated Vince McMahon, Chairman and Chief Executive Officer. WWE shares climbed 8.45% to $14.50 in pre-market trading.