TKO Q2 Revenue Climbs 18% as UFC, WWE Drive Growth

TKO Group Holdings is riding a wave of demand for live sports and entertainment, posting another quarter of double-digit growth while raising its financial outlook for 2026.

The company behind UFC, WWE and IMG reported second-quarter revenue of $1.55 billion, up 18% from a year ago, while adjusted EBITDA jumped 23% to $649.9 million. Net income also rose to $303.9 million, even as legal costs tied to WWE shareholder litigation weighed on expenses.

“Despite a challenging global environment, TKO delivered solid results in Q2, with strong momentum heading into the back half of the year,” CEO Ariel Emanuel said in a press release, crediting continued demand for premium live experiences.

President and COO Mark Shapiro said the company is benefiting from growing opportunities across ticketing, premium hospitality and sponsorships, adding that TKO’s decision to raise guidance reflects confidence in its long-term growth.

UFC Delivers Big Revenue Jump

UFC once again led the charge, generating $535.7 million in revenue, a 29% increase year over year.

The gains were fueled by the promotion’s new media rights deal with Paramount and a boost in sponsorship revenue surrounding the headline-grabbing UFC Freedom 250 event at the White House.

Live event revenue, however, slipped as the quarter featured one fewer numbered pay-per-view event, and Freedom 250 itself generated little ticket revenue. Even so, UFC’s adjusted EBITDA climbed 15% to $280.4 million.

FIFA World Cup Drives IMG Growth

IMG enjoyed one of the quarter’s strongest performances as FIFA World Cup 2026 hospitality sales through On Location sent revenue soaring 16% to $354.7 million.

The segment’s adjusted EBITDA surged 171% to $78.6 million, more than doubling its margin from the same period last year despite softer media rights revenue following the end of an Italian cycling contract.

WWE also contributed to TKO’s strong quarter, with revenue increasing $64.7 million to $620.9 million.

Outlook Gets Another Boost

After outperforming through the first half of the year, TKO raised its full-year guidance.

The company now expects 2026 revenue of $5.775 billion to $5.825 billion, up from its previous forecast, while adjusted EBITDA is now projected to reach $2.275 billion to $2.305 billion.

TKO also continued returning cash to shareholders. The company has more than $1 billion remaining under its $3 billion share repurchase authorization after completing an $800 million accelerated buyback program, and paid a $150 million quarterly dividend during the quarter.

With UFC, WWE and FIFA World Cup hospitality all contributing, TKO continues to demonstrate that the appetite for premium live experiences remains strong—and the company believes that momentum will carry through the rest of 2026.