WWE & UFC Parent TKO Beats Q1 Forecasts And Ups Full-Year Guidance

TKO Group Holdings, parent of the WWE and UFC, said “strength and momentum” at both subsidiaries powered first-quarter financial results.

Revenue handily exceeded Wall Street forecasts, reaching $1.27 billion, while earnings per share hit 69 cents, also ahead of estimates. The profit figure compared with a loss of $1.26 per diluted share in the year-ago quarter.

The company also raised its full-year guidance for revenue and adjusted EBITDA. Excluding the impact of recently acquired businesses IMG, On Location and PBR, the company increased its targets for revenue to $3.005 billion to $3.075 billion, from $2.93 billion to $3 billion. It boosted adjusted EBITDA targets to $1.39 billion to $1.43 billion, from $1.35 billion to $1.39 billion.