Ladies and gentlemen, put on your financial seat belts because TKO, the parent company of WWE, just bodyslammed the second quarter of 2024 with record-breaking results! It seems like the business side of WWE is as electrifying as a main event at WrestleMania, with numbers that would make even the most stoic accountant break out in a victory dance.
In a jaw-dropping press release this morning, TKO announced that their revenue for the second quarter of 2024 hit a staggering $851.2 million. That’s right, folks, a cool $851.2 million! Net income? A whopping $150.7 million. And let’s not forget the adjusted EBITDA, which clocked in at an eye-popping $420.9 million. These figures aren’t just impressive; they’re record-breaking in TKO’s brief yet explosive history.
Comparing this quarter to the same time last year, TKO’s revenue and adjusted EBITDA soared by 179% and 142%, respectively. Net income jumped from $81.8 million to $150.7 million, a $68.9 million leap. While both WWE and UFC contributed to this financial powerhouse, WWE emerged as the MVP, pulling in $456.8 million in revenue against UFC’s $394.4 million. WWE also led in adjusted EBITDA with $251.3 million, compared to UFC’s $231.9 million, though WWE’s numbers were a bit bruised by corporate expenses.
With such stellar performance, TKO has revised its 2024 financial forecasts upwards. The revenue target now stands at $2.745 billion, up from $2.670 billion, and adjusted EBITDA is set at $1.240 billion, up from $1.220 billion. In layman’s terms, unless something truly unexpected happens, WWE is on a winning streak that shows no sign of slowing down.