TKO Beats Q1 Forecasts Raises 2025 Revenue Guidance

TKO Group Holdings reported strong first-quarter 2025 results, surpassing Wall Street expectations with $1.27 billion in revenue and earnings per share of 69 cents, marking a significant turnaround from a loss in the prior year. The company raised its full-year revenue guidance to $3.005 billion to $3.075 billion, excluding recent acquisitions IMG, On Location, and Professional Bull Riders (PBR), which when included, push guidance to $4.49 billion to $4.56 billion. Key drivers included record UFC live event performances, highlighted by its highest-grossing Fight Night, and WWE's expanded media rights, including the launch of Monday Night Raw on Netflix and increased media rights fees due to SmackDown's extension and European events. TKO's CEO Ari Emanuel emphasized ongoing strategic focuses on integrating acquired businesses, pursuing UFC's domestic media rights deal, and capital return programs. The UFC secured its largest partnership deal with Monster Energy and a significant pact with Meta, while WWE's Netflix deal and upcoming negotiations with NBCUniversal are expected to further boost revenues. Additionally, TKO is expanding into boxing, with industry speculation about Netflix airing the first TKO boxing event featuring Canelo Alvarez and Terence Crawford later this year.