TKO Group Holdings, Inc.

TKO Group Holdings raised its full-year guidance for the second time this year after reporting second-quarter 2026 results that beat the prior year across nearly every line. Revenue climbed 18% to $1.547 billion, net income rose to $303.9 million from $273.1 million, and adjusted EBITDA jumped 23% to $649.9 million, with all three segments—UFC, WWE, and IMG—growing both revenue and profit. UFC revenue rose 29% to $535.7 million on the new Paramount media rights deal and sponsorship tied to UFC Freedom 250, while WWE revenue increased 12% to $620.9 million on the ESPN distribution deal and stronger merchandise sales. IMG's adjusted EBITDA surged 171% to $78.6 million, driven by FIFA World Cup 2026 hospitality sales, lifting its margin to 22% from 9%. Management now expects full-year revenue of $5.775 billion to $5.825 billion and adjusted EBITDA of $2.275 billion to $2.305 billion, up from prior ranges, and has returned over $1.3 billion to shareholders this year. However, cash flow from operations fell to $374.0 million from $396.2 million, and the balance sheet carries $4.659 billion in gross debt against $592.5 million in cash.

UFC 325 generated an economic impact of AUD $65.7 million for the Sydney metro area. The event, held at Qudos Bank Arena, drew a sold-out crowd of 18,102 and set an arena gate revenue record of AUD $14.4 million, making it the highest-grossing event at any indoor arena in Australian history. Over 69% of attendees, approximately 12,550 fans, travelled to Sydney for the event. UFC 325 supported more than 340 local jobs and contributed AUD $16.5 million in salaries and wages, while GST on ticket sales generated about AUD $1.3 million for essential services. Combined with two previous sold-out events at the same venue since 2023, the total economic impact from the three UFC numbered events reached AUD $189.6 million, with a direct impact of AUD $70 million and 35,734 out-of-town visitors.

TKO Group Holdings has completed its accelerated share repurchase agreement, buying back $800 million of its Class A common stock. The company paid $800 million to Morgan Stanley on March 11, 2026, initially receiving 3,136,179 shares, and received an additional 1,031,119 shares upon final settlement on June 30, bringing the total repurchased to 4,167,298 shares. President and COO Mark Shapiro said the move reflects confidence in TKO's business and underscores a disciplined approach to capital deployment. TKO also has a separate 10b5-1 trading plan in effect to repurchase up to $200 million of stock, which runs until August 31, 2026, or until all shares are bought back or the plan is terminated.