WASHINGTON, D.C. — TKO Group Holdings reported second-quarter revenue of $1.547 billion, an 18% increase, and net income of $303.9 million, an 11% increase. The company's second-quarter revenue and net income surpassed Wall Street expectations.

UFC generated $535.7 million in total revenue during the second quarter, a 29% increase. UFC reported $35.6 million in adjusted earnings for the second quarter, a 15% increase.

The fiscal loss from the UFC Freedom 250 event reduced UFC's adjusted profit margin for the quarter from 59% to 52%. Absent the UFC Freedom 250 event, UFC's adjusted profit margins would have increased year-over-year.

UFC did not charge fans for tickets to the UFC Freedom 250 event due to the setting on the White House South Lawn. Nearly 200,000 people attended the UFC Freedom 250 event at the Ellipse adjacent to the White House South Lawn.

The UFC Freedom 250 event generated an estimated $1 billion in earned media value. Merchandise sales for the UFC Freedom 250 event doubled the prior UFC record.

The UFC Freedom 250 event reached a global audience of 34 million people. Approximately half of the UFC Freedom 250 viewership came from the U.S.

Paramount CEO David Ellison was pleased with the impact of the UFC Freedom 250 event on the Paramount+ streaming service. David Ellison serves as chairman and chief executive officer of Paramount Skydance, having merged Skydance Media with Paramount Global to form the entity in 2025.

Dana White stated regarding the UFC Freedom 250 event that there was no way the company could replicate the event again. White used profanity to emphasize the unique nature of the spectacle.

"The card, the production, and the storytelling were a once-in-a-lifetime spectacle on the biggest stage possible," TKO president and COO Mark Shapiro said. "From UFC Freedom 250 to the FIFA World Cup, TKO continues to deliver on the biggest stages and this quarter reinforced our 2026 execution story." TKO Group Holdings raised its adjusted earnings guidance for 2026 by $35 million. TKO Group Holdings raised its full-year 2026 Adjusted EBITDA guidance range from $2.275 billion to $2.305 billion.

"Our decision to raise full-year guidance reflects both our performance to date and our confidence in TKO’s multi-year trajectory," he said. "Our global fan base is expanding, and we are capitalizing on the commercial promise across ticketing, premium hospitality, marketing partnerships, and financial incentive packages."

"The demand in the experience economy is undeniable and positions us well for multi-year growth, margin expansion, and overall value creation," he added. Consolidated second-quarter results for TKO Group Holdings included financial gains from WWE and IMG.

"Despite a challenging global environment, TKO delivered solid results in Q2, with strong momentum heading into the back half of the year," TKO executive chair and CEO Ariel Emanuel said. "Premium live content and experiences are heating up in an increasingly AI-driven world, and our businesses are well positioned to fully capitalize on societal secular tailwinds."

TKO Group Holdings, Inc. was established on September 12, 2023, through a merger between Endeavor subsidiary Zuffa (parent company of the UFC) and World Wrestling Entertainment (WWE). The company's ability to raise guidance despite a significant one-time loss demonstrates the strength of its core business operations.

The UFC Freedom 250 event represented a strategic investment in brand visibility rather than immediate profitability. While the event resulted in a $30 million fiscal loss, it generated substantial earned media value and expanded the global audience for UFC content.

Why It Matters

TKO Group Holdings raised its 2026 financial guidance despite a $30 million loss from the UFC Freedom 250 event, signaling that strategic investments in brand visibility can outweigh immediate profitability concerns. The event's $1 billion in earned media value and record merchandise sales demonstrate how non-traditional venues like the White House South Lawn expand global audiences without ticket revenue. This approach positions the company to capitalize on the experience economy while maintaining confidence in its multi-year growth trajectory.