TKO Group Holdings, Inc. announced financial results for its second quarter ended June 30, 2025.

“TKO generated strong financial results in the quarter, led by record performance at both UFC and WWE,” said Ariel Emanuel, Executive Chair and CEO of TKO. “Our live content and experiences are proving a key differentiator for organizations and brands looking to capture audience, and our strategy is tailor made for today’s experience economy and the white-hot sports event marketplace. Given the continued momentum across our portfolio and our overall business outlook, we are raising our guidance for the full year.”

Revenue increased 10%, or $115.2 million, to $1.308 billion. The increase primarily reflected an increase of $21.5 million at UFC, to $415.9 million, and an increase of $99.4 million at WWE, to $556.2 million, partially offset by a decrease of $13.0 million at IMG, to $306.6 million.

Net Income was $273.1 million, an increase of $226.9 million from $46.2 million in the prior year period. The increase primarily reflected the increase in revenue and a decrease in operating expenses. The decrease in operating expenses reflected a decrease in direct operating costs of $114.8 million, a decrease in selling, general and administrative expenses of $3.9 million, and a decrease in depreciation and amortization of $19.5 million. The decrease in direct operating costs was primarily due to the write down of unsold tickets that was recorded in the prior year period in the IMG segment for the 2024 Paris Olympics.

WWE revenue increased 22%, or $99.4 million, to $556.2 million primarily related to a $41.6 million increase in live events and hospitality revenue, a $33.6 million increase in partnerships and marketing revenue, an $18.2 million increase in media rights, production and content revenue, and a $6.0 million increase in consumer products licensing and other revenue.

The increase in live events and hospitality revenue was due to higher ticket sales revenue as well as an increase in site fees, primarily due to revenue recorded related to both domestic and international premium live events.

The increase in partnerships and marketing revenue was primarily due to new partners and an increase in fees from renewals compared to the prior year period, most notably related to WrestleMania 41.

The increase in media rights, production and content revenue was primarily related to the timing of the previously disclosed format expansion of SmackDown as well as the contractual escalation of media rights fees, notably the impact of WWE’s global content distribution agreement with Netflix, compared to the prior year period. The increase in consumer products licensing and other revenue was primarily related to higher video gaming revenue and merchandise sales compared to the prior year period.

You can read the full press release here.