WWE Parent Company TKO Reports Record Results From Second Quarter 2024

It's safe to say that business is a-booming for WWE at the moment, and really has been for the past two years. 2024 has seen an uptick in comparison to 2022 and 2023 however, with WWE continuing to set gate records for PLE's such as WrestleMania, Backlash and Money in the Bank, and ticket sales in general on the rise. As such, it's no surprise that all of this reflects well in the business metrics of WWE's parent company, TKO.

In a press release unveiled this morning, TKO reported record results for the second quarter earning in 2024. The corporation drew revenue of $851.2 million, net income of $150.7 million, and an adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) of $420.9 million. In the case of revenue and EBITDA, both numbers represent a quarterly record in TKO's short history.

Overall, revenue and adjusted EBITDA increased 179% and 142%, respectively, from earnings in the second quarter of 2023, while net income increased $68.9 million from $81.8 million to $150.7 million. While the numbers represent money brought in from both WWE and UFC, another member of TKO, WWE's numbers were the bigger reason for the increase, with the promotion drawing $456.8 in revenue compared to UFC's $394.4 million, while WWE's EBITDA was $251.3, albeit offset by corporate expenses, compared to UFC's $231.9 million.

As a result of these increases, TKO has adjusted their 2024 financial guidelines in anticipation of the year being even bigger than previously thought. The corporation has now increased it's revenue target from $2.670 billion to $2.745 billion and adjusted EBITDA from $1.220 billion to $1.240 billion. As such, barring an unforeseen turn of events, it appears WWE can expect to be rolling in the green for the foreseeable future.