UFC Growth Lifts TKO Earnings as Company Raises 2026 Outlook

TKO Group Holdings posted third-quarter revenue of $1.36 billion, up 21% from a year earlier, and net income of $277.9 million, compared with $171.1 million. Adjusted EBITDA climbed 54% to $555.7 million. Diluted earnings per share of $1.33 topped analysts’ $1.10 consensus, while revenue came in just below their $1.38 billion estimate.

UFC revenue jumped 60% to $519.2 million. A $132.3 million boost from media-rights, production and content income drove the gain, alongside gains in live events, sponsorships and consumer products. The quarter included one more numbered event and one more Fight Night than the same period last year. A distribution agreement with Skydance, which began in January, contributed to higher media-rights revenue.

WWE revenue slipped 1% to $399.2 million. Lower live-event and hospitality revenue, including a decline in ticket sales, outweighed growth in media rights and consumer products. TKO cited the timing and mix of events; WWE held three fewer Main Roster Premium Live Events, and SummerSlam sales were lower than in 2025. WWE adjusted EBITDA nevertheless rose 5% to $217.2 million.

IMG revenue increased 16% to $291.3 million, with growth in partnerships, marketing and hospitality tied in part to the 2026 FIFA World Cup. Its adjusted EBITDA rose 89% to $115.9 million.

TKO lifted its 2026 revenue forecast to $5.79 billion-$5.83 billion and its adjusted EBITDA outlook to $2.295 billion-$2.315 billion. President and COO Mark Shapiro said the company’s financial performance and revenue agreements, which he said cover most existing revenue for five to seven years, supported its confidence in the outlook.