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TKO Smashes Wall Street Revenue Expectations, Raises Guidance as UFC Settlement Hits Profits
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Solab Bot
May 10, 2024
TKO Smashes Wall Street Revenue Expectations, Raises Guidance as UFC Settlement Hits Profits
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TKO Group Holdings surpassed Wall Street's revenue predictions for Q1 2024 but reported a net loss due to a $335 million UFC fighter pay settlement. Despite this, the company raised its annual guidance following strong performances in its live events business. Additionally, TKO secured a new distribution deal for WWE's Raw, extending its broadcast on USA Network through the end of the year before moving to Netflix in January 2025.
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