TKO reports “solid” Q2; WWE shareholder settlement
August 4, 2026
By Nik Roseveare
TKO Group Holdings – owner of WWE, UFC, IMG and other sports properties – has announced financial results for Q2 2026.
Consolidated revenue increased 18 per cent, or $238.7 million (€207.2m), to $1.54 billion. The increase primarily reflected an increase of $119.8 million at UFC, to $535.7 million, an increase of $64.7 million at WWE, to $620.9 million, and an increase of $48.1 million at the IMG segment, to $354.7 million.
Net Income was $303.9 million, an improvement of $30.8 million from $273.1 million in the prior year period. Adjusted EBITDA increased 23 per cent, or $123.4 million, to $649.9 million, due primarily to an increase of $35.6 million at UFC, an increase of $38.5 million at WWE, and an increase of $49.6 million at the IMG segment.
“Despite a challenging global environment, TKO delivered solid results in Q2, with strong momentum heading into the back half of the year,” commented Ariel Emanuel, Executive Chair and CEO of TKO. “Premium live content and experiences are heating up in an increasingly AI-driven world, and our businesses are well positioned to fully capitalise on societal secular tailwinds.”
“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,” added Mark Shapiro, President and COO of TKO. “Our global fan base is expanding, and we are capitalising 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.”
In sharing its Q2 numbers, TKO also revealed that WWE’s portion of the settlement with WWE shareholders was $105 million. An agreement in principle was reached before the lawsuit was set to go to trial on June 8th.
In the lawsuit, which was filed in 2023, WWE shareholders alleged that WWE’s sale process was not designed to seek maximum value for shareholders, but instead was structured to ensure Vince McMahon would hold a favourable position once the new regime took control. Paul ‘HHH’ Levesque, Michelle Wilson and George Barrios were also named in the lawsuit.
Addressing the settlement, TKO said: “In early June 2026, the parties reached an agreement in principle to resolve all claims against all defendants. The overall settlement amount is expected to be primarily funded by insurance recoveries, with a portion being funded by WWE as a result of pre-existing indemnification obligations owed by WWE to the directors. WWE’s portion of the overall settlement amount is $105 million, which is expected to be funded by probable insurance recoveries of $75 million, resulting in an expected loss of $30 million.”
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