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Monday, May 27, 2024

Endeavor Reports $1.4B in Third-Quarter Revenue

Ed Mulholland-USA TODAY Sports/Design: Alex Brooks

UFC and WME parent company Endeavor posted $1.4 billion in third-quarter revenue on Tuesday, recording $63.6 million in net income.

The company says it delivered its “best nine-month, year-to-date period in UFC history,” for the span ending Sept. 30, despite third-quarter revenue for its owned sports properties division falling by $10.6 million year-over-year to $288.5 million.

Endeavor’s events, experiences, and rights segment jumped $62.1 million to $446.3 million, though it was “partially offset by a decrease in media rights revenues.”

During the quarter, Endeavor made a number of moves to expand its sports business.

  • The company announced its intent to acquire sports betting company OpenBet from Scientific Games for $1.2 billion.
  • It closed its reported $60 million acquisition of sports digital agency Mailman Group in July.
  • It participated in Fanatics’ $350 million funding round in September.

The company is also reportedly teaming up with private equity firm Silver Lake to buy minor league baseball teams, and agreed to a deal with eBay last month to sell sports memorabilia.

Endeavor increased its full-year revenue guidance to between $4.89 and $4.95 billion.

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