What drove TKO's earnings beat in 2024?

TKO's earnings beat in 2024 can be attributed to several key factors:

1. **Acquisition of WWE**: The acquisition of WWE significantly boosted TKO's revenue and profitability. The addition of WWE's live events, media rights, and sponsorship revenues contributed substantially to TKO's overall performance.
2. **UFC's Growth**: The UFC segment also performed well, with media rights and content revenue increasing, and live events and sponsorship revenues growing. This was partly due to the successful integration of the UFC roster under one partner, which enhanced awareness and increased domestic rights revenues by approximately 40%.
3. **Strategic Partnerships and Media Deals**: TKO's focus on expanding the possibilities for fight sports and entertainment through media deals, sponsorships, and live events paid off, contributing to the company's revenue growth.
4. **Legal Settlement**: Despite a significant legal settlement, TKO reported robust revenue growth and strategic expansions, which helped to mitigate the impact of the settlement charge.
5. **Financial Performance of WWE**: WWE's financial achievements, such as the reported record full year 2022 results and the increase in operating income and adjusted OIBDA, further supported TKO's overall earnings beat.

In summary, TKO's earnings beat in 2024 was driven by the acquisition of WWE, the growth of UFC, strategic partnerships, and the financial performance of WWE, among other factors.

|code|Ticker|Name|Date|Net Income|market_code|
|---|---|---|---|---|---|
|TKO|TKO.N|TKO Group Holdings|2024 Q1|-2.4951E8|169|
|TKO|TKO.N|TKO Group Holdings|2024 Q2|1.50664E8|169|
|TKO|TKO.N|TKO Group Holdings|2024 Q3|5.7722E7|169|
|TKO|TKO.N|TKO Group Holdings|2024 Q4|4.7501E7|169|