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.
TKO Group Holdings, Inc.TKO beat Q2 estimates, raised full-year guidance for the second time, and returned over $1.3B to shareholders
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