TKO Group Holdings is cashing in bigliterally. The company behind WWE and UFC just released its second quarter earnings report for 2025, and the numbers are massive.
TKO pulled in $1.308 billion in revenue, with $273.1 million in net income and a 75% spike in Adjusted EBITDA, reaching $526.5 million. Thats not alltheyre now projecting up to $4.69 billion in revenue for the full year. Ariel Emanuel, TKOs Executive Chair and CEO, didnt hold back when explaining the companys momentum.
But whats turning more heads is WWEs new streaming home. Earlier in the day, ESPN and WWE announced a multi-year deal that will move all WWE Premium Live Eventsincluding WrestleMania, Royal Rumble, SummerSlam, and moreexclusively to ESPNs upcoming direct-to-consumer platform starting in 2026.
Mark Shapiro, TKOs President and COO, called it a milestone. We are proud WWE will now take a prominent seat at [ESPNs] table during such a transformational juncture.
WWE is flexing hard this quarter. The wrestling juggernaut brought in $556.2 million, up 22% year-over-year, with massive growth across all key areas: live events, sponsorships, content rights, and merch. Its Adjusted EBITDA jumped 31% to $329.8 million, thanks in part to the success of WrestleMania 41 and deals like the global Netflix agreement.
On the UFC side, the promotion delivered $415.9 million in revenueits own 5% increase from the same period last year. Sponsorships and media deals drove the growth, even as some site fees and international live event numbers dipped.
And TKOs other recent acquisitions are pulling their weight. IMGs performance bounced back dramatically, swinging from a negative $91.2 million Adjusted EBITDA last year to a positive $29.0 million this quarter.
In case investors werent impressed yet, TKO also reminded the world theyve locked in a $2 billion stock buyback program and just finished paying off a $375 million UFC antitrust lawsuit settlement. Talk about clearing the decks and doubling down.
This isnt just a big quarterits a statement. The ESPN deal positions WWE in front of a massive sports audience, with WrestleMania and other major events now aligned with brands like the NFL and NBA. Ariel Emanuel said it plainly: Given the continued momentum across our portfolio and our overall business outlook, we are raising our guidance for the full year.
With WWE breaking past the Attitude Eras legacy and UFC expanding globally, TKO looks like its building a media empire with no signs of slowing down.
Are you surprised TKO is pulling this off with such force? Could WWEs move to ESPN reshape how fans watch wrestling forever? Please share your thoughts and feedback in the comment section below.
