Vince McMahon, Triple H, Stephanie McMahon Sell WWE Stock Worth $1.598M

WWE executives Vince McMahon, Triple H and Stephanie McMahon collectively sold more than $1.5 million worth of stock this week.

According to Wrestling Inc's Raj Giri, SEC filings show that Vince sold 12,762 shares worth $590,370.12, Triple H sold 10,628 shares worth $491,651.28 and Stephanie sold 11,167 shares worth $516,585.42.

The McMahons and Triple H were some of the several WWE executives who sold shares at $46.26 apiece ahead of WWE's 2020 second quarter earnings report, scheduled for July 30.

Despite the coronavirus pandemic forcing WWE to run shows without fans since March, including WrestleMania 36, the company reported strong earnings for the first quarter of the year.

On the strength of massive television contracts with Fox and NBCUniversal, WWE reported revenue of $291 million and a net income of $26.2 million.

WWE made cuts across the board in April as a means of counteracting the financial effects of the pandemic. Several wrestlers were released, while many people in other departments were fired or furloughed.

The lack of fans has seemingly hurt interest in the product, as the Raw and SmackDown viewership numbers have been down. In fact, July 13's Raw set a record low in viewership with just 1.687 million viewers.

Even so, Raw and SmackDown are still performing well in the 18-49-year-old demographic compared to the competition, and the shows are generating better viewership than what the networks might otherwise have in their places.

As a result, WWE seemingly remains locked into its television deals comfortably, and that should lead to another profitable quarter when earnings are announced at the end of July.

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