HARTFORD, Conn. (AP) – World Wrestling Entertainment Inc. on Tuesday reported a nearly 6 percent increase in earnings in the eight-month period ending Dec. 31 even though profit from live and televised entertainment fell by $5 million.

WWE reported net income of $31.6 million, up 5.7 percent from $29.8 million in the same period in 2005. Share price increased from 43 cents last year to 44 cents in the eight-month period.

Stamford-based WWE initiated the eight-month transition period as it changes its financial reporting to a calendar-year basis.

Growth was led by live events, merchandise and home video businesses, Linda McMahon, WWE’s chief executive, said in a statement.

Revenue increased by 6 percent despite a loss of revenue from domestic cable advertising. Revenue totaled $262.9 million, up from $247.7 million in the same period in 2005.

Analysts polled by Thomson Financial expected revenue for the third quarter ending in January to rise by 11 percent and per-share earnings to drop 2 percent. WWE’s reporting period is not comparable to the period used by Thomson.

TV advertising revenue was $4.5 million, down considerably from $19.8 million in 2005. WWE said the drop was due to a television distribution agreement with USA Network, effective in October 2005, in which WWE no longer participates in domestic TV ad sales. Revenue continues to include sales of advertising on Canadian TV programs.

WWE traded at $16.25 on the New York Stock Exchange on Tuesday morning, down from $16.40.

AP-ES-02-13-07 1002EST