TKO Releases First Quarter 2026 Earnings, a 26% Increase in Revenue to $1.597 Billion

WWE parent company TKO Group Holdings, LLC (TKO) announced its First Quarter 2026 financial results today. The company listed revenue of $1.597 billion for the quarter, with a net income of $249.8 million. TKO also had an Adjusted EBITDA of $549.8 million.

Additionally, TKO announced a board authorization of up to an additional $1 billion of share repurchases. This includes a return of approximately $1 billion of capital to equity holders through share repurchases, dividend payments, and related distributions.

For the quarterly earnings, TKO cited a 26% increase in revenue of $328.1 billion for a total revenue of $1.597 billion. It’s noted that the increase is mainly reflected in an increase of $41.5 million to UFC, to $401.2 million, an increase of $84.2 million at WWE, to $475.7 million, and an increase of $179.1 million at the IMG segment, to $655.4 million.

Net income saw an overall improvement of $84.3 million in the prior year period, which was $165.5 million, to Q1 2026 net income of $249.8 million. TKO states that the improvement is based on an increase in revenue partially offset by an increase in operating expenses.

TKO Executives Comment on ‘Formidable Start’ for 2026 Earnings

In a statement via a press release on the earnings, TKO CEO Ari Emanuel commented, “TKO is off to a formidable start in 2026, with strong results and continued momentum across each of our businesses.” He continued, “We are reaffirming our full-year guidance, and today’s incremental $1 billion share repurchase authorization underscores our conviction in TKO and its long-term value.

TKO President and COO Mark Shapiro also commented, “TKO’s first quarter results reflect the strength and durability of our premium IP. Our media rights portfolio is firmly in place, our financial incentive packages continue to scale, and demand for our premium live events and experiences is healthy.” Shapiro added, “With UFC Freedom 250 at the White House and On Location’s FIFA World Cup partnership, TKO will take center stage this summer, crowning moments for audience growth, cultural relevance, and our business trajectory.”

With regards to the Return of Capital Program, the press release also notes that TKO authorized an additional $1 billion of repurchases of its outstanding Class A common stock. The authorization is incremental to the previously announced $2.0 billion share repurchase program.

The press release also states that TKO will determine at its own discretion the timing and the amount of any repurchases based on its evaluation of market conditions, share price, and other factors. Additionally, the share repurchase program has no expiration date, and it “may be modified, suspended, or discontinued at any time.”