TKO lifts full-year outlook again on strong UFC and WWE demand
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TKO Group, the parent company of UFC and WWE, has raised its full-year financial guidance for the second time this year after posting stronger-than-expected second-quarter results. The upgrade reflects robust demand from fans and marketers for live events staged by the two combat sports and wrestling promotions, alongside strength in the company's IMG and On Location hospitality businesses, with executives citing growing ticketing, sponsorship and premium-experience revenue as evidence of momentum carrying into the second half of 2026, including the FIFA World Cup.
For the quarter, TKO generated revenue of $1.547 billion, up 18% year-on-year, alongside net income of $303.9 million and adjusted EBITDA of $649.9 million, beating Wall Street forecasts. UFC revenue climbed 29% to $535.7 million with adjusted EBITDA up 15% to $280.4 million, while WWE revenue rose 12% to $620.9 million with adjusted EBITDA up 12% to $368.3 million; On Location revenue grew 16% to $354.7 million as its adjusted EBITDA more than doubled. TKO lifted its full-year revenue guidance by a further $75 million and its adjusted EBITDA outlook by $25 million, now targeting revenue of $5.775 billion to $5.825 billion and adjusted EBITDA of $2.275 billion to $2.305 billion.
- TKO raises 2026 guidance again after strong Q2 results
- Quarterly revenue up 18% to $1.547 billion, beating forecasts
- UFC, WWE and On Location all posted double-digit growth
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TKO Group is the American company that owns two of the world's biggest names in staged combat entertainment: UFC, a mixed martial arts promotion, and WWE, the professional wrestling business. It stages live events around the world and makes money from ticket sales, hospitality packages, sponsorship deals and broadcasting rights, so its financial results offer a snapshot of how much appetite fans and advertisers still have for this kind of entertainment.
Companies routinely give investors "guidance", an estimate of how much revenue and profit they expect to make over the coming year. When a firm raises that guidance, it is signalling more confidence in its own performance than it had previously stated. Wall Street analysts also publish their own forecasts for each quarter, and firms are judged on whether they beat, match or miss those expectations.
TKO listed on the New York Stock Exchange after UFC's parent company merged with WWE in 2023, bringing the two promotions under one publicly traded roof. Because the company now reports results every quarter like any other listed business, its performance is watched closely as an indicator of broader consumer spending on live sports and entertainment.
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Originally published by Variety as “TKO Raises Investor Guidance Again as UFC and WWE Flex Muscle With Fans and Marketers”.