WWE’s business has taken off in a big way since Endeavor merged them with the UFC. On that note, TKO Group Holdings is on another massive increase when it comes to their revenue. The company’s latest quarterly earnings statement only proclaimed that fact even more by giving actual numbers, and it’s quite impressive.

TKO Group Holdings has reported a 52% increase in revenue for the third quarter of 2024, reaching $681.2 million. This growth reflects higher earnings from WWE, which saw a revenue boost of $274.7 million. WWE’s total revenue for the quarter was $326.3 million. UFC’s revenue, however, declined by $42.6 million to $354.9 million.

The company’s net income for the quarter was $57.7 million, up from $22.0 million in the same period last year. This represents an increase of $35.7 million. The rise in net income came from higher revenue but was partly offset by a rise in operating expenses.

Operating expenses grew due to higher direct operating costs, increased selling and administrative expenses, and higher depreciation and amortization. That being said, it costs a lot of money for WWE and UFC to put on their huge productions, but they are making their money back in a big way.

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Ariel Emanuel, Executive Chair and CEO of TKO, commented on the results. He pointed to strong performances from both UFC and WWE, particularly in live events and brand partnerships. Emanuel also noted that TKO expects to finish 2024 at the upper end of its revenue and Adjusted EBITDA guidance.

The company revised its full-year 2024 revenue target to between $2.670 billion and $2.745 billion. TKO also raised its forecast for Adjusted EBITDA to between $1.220 billion and $1.240 billion. The company reaffirmed its expectation for Free Cash Flow Conversion to exceed 40%.

Earlier in the quarter, TKO authorized a capital return program. The company also reached an agreement to acquire key sports assets. These moves are expected to strengthen TKO’s position in the sports market and provide better returns for shareholders.

Since the merger of UFC and WWE in September 2023, TKO has seen strong results across both brands. Emanuel said the company’s confidence in the business has only grown. He emphasized that the momentum in both companies supports the optimistic outlook for the rest of the year.

TKO remains focused on leveraging the combined strength of UFC and WWE. With even bigger events and strategic acquisitions on the way, TKO is certainly going to continue growing.

What is the most impressive part of the UFC and WWE merger so far? Please share your thoughts and feedback in the comment section below.

H Jenkins

H Jeknins is a News Correspondent at Ringside News, keeping wrestling fans updated with timely and accurate reports on all things wrestling.

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