TKO Group Holdings (TKO) Q3 revenue $1.360 billion vs $1.39 billion est.; raises full-year guidance

TKO Group Holdings reported third-quarter 2026 revenue of $1.360 billion, up 21% year over year but below the $1.39 billion consensus estimate, with net income of $277.9 million and Adjusted EBITDA of $555.7 million, a 54% increase that lifted the margin to 41% from 32%. UFC revenue rose $194.0 million to $519.2 million and the IMG segment added $54.6 million to $391.3 million, while WWE revenue slipped $2.8 million to $399.3 million. The company raised full-year 2026 guidance for the second time this year, lifting its revenue target to $5.790 billion–$5.830 billion and Adjusted EBITDA to $2.295 billion–$2.315 billion, and said it intends to commence additional share repurchases after returning more than $1.6 billion of capital to equity holders year-to-date. President and COO Mark Shapiro attributed the results to secular tailwinds in live events and said most existing revenue is locked in for the next five to seven years. Investors will watch whether the top-line miss pressures the stock against the stronger profit and cash-flow picture, and how quickly the new buyback program ramps up.