TKO, which resulted from the merger of WWE and UFC, has shared its financial performance for the first quarter of 2024.
TKO Group Earnings published its Q1 2024 earnings on May 8, disclosing a revenue of $629.7 million and a net loss of $249.5 million. The adjusted EBITDA stood at $282.2 million.
The report highlighted the success of both WWE and UFC during the period, emphasizing the groundbreaking UFC 300 and WrestleMania 40 events.
TKO also announced a settlement agreement to resolve all claims from UFC antitrust lawsuits, amounting to $335 million, to be paid in installments and anticipated to have tax benefits.
CEO Ari Emanuel shared his thoughts on the outcomes, stating, “TKO has had a robust start in 2024 with numerous record-breaking live events, new brand partnerships, and media rights agreements for WWE Raw. With our positive momentum and strong financial performance, we have revised our full-year 2024 guidance. Moreover, we have settled all claims related to the UFC antitrust lawsuits, reinforcing our confidence in the WWE and UFC combination and TKO’s capability to create lasting value for our shareholders.”
TKO was established in September 2023 through the merger of WWE and UFC.
