TKO Group Holdings announced its earnings for the first quarter of 2026. TKO reported earnings of $1.597 billion in revenue reflecting a 26% increase from 2025. The UFC and WWE contributed to TKO’s big quarter.
TKO garnered $249.8 million in net income and $549.8 million in adjusted EBITDA. It also returned approximately $1B of capital to equity holders through share repurchases and dividend payments and related distributions.
The UFC earned $401.2M in revenue in the three months starting on January 1, 2026 and ending on March 31, 2026. This is an increase from the $359.7M in 2025. The media rights, production and content earned the most for the company drawing $276.3M viewers in 2026. Live events and hospitality were down from $58.6M in 2025 to $48.5M in 2026. This is in part to two fewer Fight Night events in the quarter versus the events in 2025 which included a Fight Night event in Saudi Arabia “partially offset by higher ticket sales revenue, compared to the prior year period.”
Partnerships and marketing drew $67.1M viewers in 2026 which was up from $64.3M viewers in 2025. Consumer products and licensing and other drew $10.3M viewers were down compared to the $12.7M in 2025.
WWE drew $281.7M in media rights, etc. versus $251.6 in 2025. Live events and hospitality grew in 2026 from $76.3 to $123.5M which is related to “an increase in financial incentive package revenues” (site fees) most notably from the Royal Rumble being held in Saudi Arabia. Partnerships and marketing drew $26.2 as opposed to $25.6 in 2025. Consumer products grew from $44.3 to $38.0 in 2025.
The most notable thing is the fact that Saudi Arabia increases TKO’s bottom line. Notice the increase in Live events, etc. revenue for WWE this year and the lack of a Saudi Arabia event for the UFC in this quarter,
Both UFC and WWE are doing well in all segments (except maybe UFC’s merchandise segment).
The company announced that its forecast for 2026 target revenue of $5.675B to $5.775B is still in line.
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