TKO Delivers Mixed Results in Quarterly Earnings Debut
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TKO, the newly formed holding company for UFC and WWE that is controlled by Endeavor, delivered mixed results in its first post-merger earnings report, reflecting the shakeout from the deal that closed with just 19 days to go in the third quarter.
TKO reported revenue gains of 32% from the year-ago quarter to $449.1 million. Adjusted earnings grew 26% to $239.7 million. Net income fell to $22 million, from $129.7 million.
“Since launching TKO on September 12th, our teams at WWE, UFC, and Endeavor have been focused on
integration and executing our strategy,” said Ariel Emanuel, CEO of TKO and Endeavor. “This includes identifying cost synergies at the high end of the range we guided, bringing events to new international markets including Saudi Arabia and Australia, delivering media rights increases for WWE, and closing the largest global partnership deal ever for UFC with AB InBev. We remain bullish about TKO’s ability to accelerate growth and unlock long-term value for shareholders.”
UFC had a strong quarter thanks in part to having a few more events this time around than the year-ago frame.
More to come
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