TKO Raises Guidance Again in Q2 Earnings Report

TKO Group Holdings once again delivered a knockout to Wall Street estimates in Q2, with the owner of UFC and WWE once again raising guidance for the year. TKO delivered revenue of $1.5 billion (up 18 percent), net income of $303.9 million and adjusted EBITDA of $649.9 million (up 23 percent), while raising its 2026 target for revenue to between $5.775 billion and $5.825 billion and its target for adjusted EBITDA to between $2.275 billion and $2.305 billion. All of its segments were up compared to Q2 a year ago. At UFC, the Freedom 250 event was reflected in the company’s financials, with marketing and partnership revenue up substantially, though costs and expenses also rose. UFC revenue was $535.7 million, driven largely by the substantial increase in partnerships revenue, as well as a rise in media rights revenue thanks to the new Paramount TV deal. Live events and hospitality revenue declined slightly, due to one fewer numbered event, and the fact that UFC did not sell tickets to the White House fights. WWE revenue was $620.9 million, with media rights leading the charge, with consumer products and partnerships also up slightly. Live events and hospitality also declined slightly due to the comparison to las year’s Wrestlemania in the quarter. IMG revenue was $354.7 million with live events and hospitality driving the largest gains, thanks to On Location’s work during the 2026 FIFA World Cup. Media rights declined slightly due to the loss of a cycling event in Europe. THR Newsletters Sign up for THR news straight to your inbox every day Subscribe Sign Up