TKO Group Holdings Raises Full-Year Guidance After Strong Q2 Performance
On August 3, 2026, TKO Group Holdings (NYSE:TKO) reported second-quarter results that exceeded expectations across nearly all metrics. Revenue rose to $1.547 billion with net income at $303.9 million and adjusted EBITDA climbing 23% year-over-year to $649.9 million. All three operating segments—UFC, WWE, and IMG—posted revenue and profit growth simultaneously. The UFC segment saw a significant boost from its new media rights deal with Paramount and strong sponsorship activity around the Freedom 250 event at the White House. WWE benefited from an ESPN distribution agreement and merchandise sales, while IMG experienced a dramatic turnaround in EBITDA due to FIFA World Cup hospitality sales. Based on this performance, TKO raised full-year revenue guidance to $5.775 billion–$5.825 billion and adjusted EBITDA guidance to $2.275 billion–$2.305 billion. Despite the strong results, some challenges remain: SG&A expenses increased due to litigation costs related to WWE, UFC's margin dipped because of event structure changes, and cash flow from operations declined slightly. The company has returned over $1.3 billion to shareholders this year through buybacks and dividends.
Topics: EBITDA IMG media rights revenue growth TKO UFC WWE