TKO executives also reported that the company had “returned approximately $1 billion of capital to shareholders” through share buybacks, dividend payments and other distributions.
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TKO Executive Chairman and CEO Ari Emanuel said Wednesday:
“TKO is off to a tremendous start to 2026, with strong results and continued momentum across each of our businesses. We are reaffirming our full-year guidance, and today’s $1 billion incremental share buyback authorization underscores our conviction in TKO and its long-term value.”
WWE was a major part of that revenue growth, increasing its revenue to $475.7 million in the first quarter of 2026, an increase of $84.2 million from the same period in 2025. The UFC also saw an increase in revenue, generating $401.2 million, which was an increase of $41.5 million.
News of the strong financial start to the year comes the same week as reports that WWE recently asked several wrestlers on its roster to take significant pay cuts. During the first quarter of 2026, WWE saw revenue increases in all key areas, with the largest growth coming in live events and hospitality. There, the company nearly doubled its revenue, going from $76.3 million in the first quarter of 2025 to $123.5 million in the financial quarter ending March 31.
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TKO executives said the company is targeting between $5.675 billion and $5.775 billion in total revenue in 2026, with an eye toward major events heading into the summer.
Said TKO President and COO Mark Shapiro:
“TKO’s first quarter results reflect the strength and durability of our premium intellectual property. Our media rights portfolio is firmly established, our financial incentive packages continue to grow and demand for our premium live events and experiences is healthy. With UFC Freedom 250 at the White House and On Location’s partnership with the FIFA World Cup, TKO will take center stage this summer, capping moments of audience growth, cultural relevance and our business trajectory.”
Company executives also reported adjusted EBITDA of $549.8 million (an increase of 32%), with $62.2 million coming from WWE and $62.2 million from UFC, and another increase of $27.1 million.