TKO Group Holdings delivered fourth-quarter results that topped Wall Street expectations despite a revenue dip at WWE related to flagship program Raw.
The Monday night mainstay wrapped its decades-long run on cable TV last December on USA Network and opened a new era in January, kicking off a $5 billion rights deal with Netflix. Revenue at WWE declined 10% from the year earlier period to $298.3 million, with the company blaming timing for the drop in proceeds from rights and programming.
UFC was a cleaner and more upbeat story in the quarter, with revenue up 22% to $343.9 million and adjusted EBITDA rising 25% to $178.4 million.
Total company revenue ticked up 5% over the year ago period to reach $642.2 million, while the company swung from a loss in the 2023 period to earnings of 28 cents a share on a diluted basis.
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