TKO isn’t slowing down anytime soon. Just weeks after returning millions to shareholders through its quarterly dividend, WWE’s parent company is back with another massive financial update—and the numbers are getting even bigger.
On August 3, TKO announced its second-quarter 2026 earnings, posting $1.547 billion in revenue, $303.9 million in net income, and $649.9 million in adjusted EBITDA. The company also revealed it is raising its financial outlook for the rest of 2026 and intends to launch additional share repurchases, showing continued confidence in the business.
Perhaps the biggest deal for investors is just how much money TKO has already handed back. The company revealed it has returned more than $1.3 billion to equity holders so far this year through a combination of dividends, share buybacks and related distributions.
Executive Chairman and CEO Ariel Emanuel credited the company’s momentum despite economic uncertainty.
“Despite a challenging global environment, TKO delivered solid results in Q2, with strong momentum heading into the back half of the year. 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.”
President and COO Mark Shapiro echoed that optimism while explaining why TKO is increasing its full-year projections.
“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. Our decision to raise full-year guidance reflects both our performance to date and our confidence in TKO’s multi-year trajectory. 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.”
The results show WWE continuing to be one of TKO’s biggest revenue drivers. WWE generated $620.9 million in second-quarter revenue, up 12% from the same period last year, while adjusted EBITDA climbed to $368.3 million. The growth was fueled largely by higher media-rights revenue from WWE’s ESPN agreement, along with stronger merchandise and partnership revenue.
UFC also posted a huge quarter, bringing in $535.7 million in revenue, while IMG contributed $354.7 million, helping push TKO to another record-setting period. The company also raised its full-year outlook. TKO now expects 2026 revenue between $5.775 billion and $5.825 billion, while adjusted EBITDA is projected to land between $2.275 billion and $2.305 billion.
Between stronger-than-expected financial results, increased guidance and plans for additional share repurchases, TKO is making it clear it believes its momentum is only accelerating.
What do you make of TKO’s latest earnings report and its decision to increase guidance while buying back even more stock? Let us know in the comments below.
