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MX News Update 2024

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TKO (WWE and UFC) reports earnings for Q1 2024

TKO (the merged company of WWE and UFC) has reported their earnings for the first quarter of 2024.

On May 8, TKO Group Earnings reported their earnings for the first quarter of 2024. The company reported revenue of $629.7 million and a net loss of $249.5 million for the first quarter. Adjusted EBITDA was reported as $282.2 million.

The report highlighted the success that both WWE and UFC enjoyed in the first quarter, including the record-breaking UFC 300 and WrestleMania 40 events.

Additionally, TKO stated that they had reached an agreement to settle all claims in both UC antitrust cases for a total amount of $335 million. This amount will be paid in installments and is expected to be tax deductible.

TKO CEO Ari Emanuel issued a statement on the results.

“TKO is off to a strong start in 2024 with multiple record-breaking live events, new brand partnerships and media rights deals for WWE Raw,” said Ariel Emanuel, Executive Chairman and CEO of TKO. “With our first quarter momentum and solid financial results, we have raised our full-year 2024 expectations. We have also reached an agreement to settle all claims in both UFC antitrust cases. These positive developments, together with the strength of our underlying businesses, make us more confident than ever in the combination of UFC and WWE, and in TKO’s ability to deliver sustainable long-term value for shareholders.”

WWE and UFC previously merged to form TKO in September 2023.

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