Endeavor-Owned TKO Posts 29% Rise In Revenue In Q2
deadline.comEndeavor-owned TKO Group Holdings, the company formed from the merger last year of the UFC and the WWE, reported a 29% rise in revenue in the second quarter.
Adjusted EBITDA, a gauge of profitability, increased 23% to $231.9 million. The revenue uptick to $394.4 million was mainly driven by a gain in media rights and content revenue, along with higher live events revenue thanks to an additional event occurring in the quarter.
Sponsorship proceeds also improved in the period. The company’s financials in the quarter ended June 30 are compared with pro-forma results from the WWE and UFC when they were separate entities.
In recent months, Endeavor has decided to go private after three years as a public company and let TKO, of which it owns 51%, be its sole publicly traded operation.
Read more on deadline.com