Endeavor posts Q2 profit of $42 million

Endeavor on Thursday delivered strong second-quarter earnings on the back of its sports, live events and talent advocacy activities.

The company, which is home to UFC, WME and IMG, posted year-over-year revenue gains at its key units for the quarter as its sports and entertainment activities continue to adjust to the post-pandemic new normal. Strong demand, particularly for sports and events, drove Endeavor to net income of $42.2 million on revenue of $1.3 billion, an increase of about 18% year over year.

The rebound prompted Endeavor to slightly revise its full-year guidance for adjusted earnings before interest, taxes, depreciation and amortization to a range of $1.13 billion to $1.17 billion, up from the estimate of $1.1 billion to $1.15 billion. Dollar lies, which was offered in May with the results of the first quarter. Revenue guidance was unchanged at $5.235 billion and $5.475 billion sequentially.

“We benefited from strong growth across all of our segments globally in the second quarter,” said Ariel Emanuel, CEO of Endeavor. “While recognizing that broader macroeconomic forces are at play, given the quarter’s performance and our year-end view, we have again raised our Adjusted EBITDA guidance. We remain focused on our long-term strategy – leveraging the diversity and scale of our businesses to achieve maximum value for our shareholders, our customers and our own intellectual property.”

There’s more to come

https://variety.com/2022/tv/news/endeavor-q2-earnings-ufc-wme-1235339208/ Endeavor posts Q2 profit of $42 million

Charles Jones

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