Killer Q3 For UFC Helps TKO Beat Wall Street Earnings Forecasts

TKO Group Holdings beat Wall Street’s earnings forecast for the third quarter, as a sharp rise in UFC revenue offset weaker performance at WWE. Earnings per diluted share were $1.33, above the expected $1.10, while total revenue of $1.36 billion fell slightly short of the $1.38 billion forecast.

UFC revenue rose 60% year on year to $519.2 million, including a $132.3 million increase in media rights, production and content revenue. The boost reflected a new $7.7 billion distribution deal with Skydance and two additional events compared with the same quarter last year. WWE revenue fell 1% year on year; TKO raised its full-year forecasts to $5.79 billion to $5.83 billion in revenue and $2.295 billion to $2.315 billion in adjusted EBITDA.