TKO is about to open the books — and Wall Street is listening. After dropping eye-popping 2025 numbers that showed WWE pulling in $1.709 billion in revenue and UFC hitting $1.502 billion, TKO executives are stepping up to the mic today, February 25, 2026, for the official earnings call. This isn’t just a routine conference call. Investors want answers. Analysts want projections. And fans want to know what these record numbers really mean for WWE’s future.
Expect TKO leadership — including Ariel Emanuel and Mark Shapiro — to break down:
• WWE’s 22% revenue jump
• The financial impact of the Netflix and ESPN media rights deals
• UFC’s consistent profit margins
• The company’s bold 2026 revenue projection of up to $5.775 billion
• Adjusted EBITDA targets pushing past $2.2 billion
• Over $1.3 billion already returned to shareholders
There’s also likely to be discussion around the IMG acquisition, international premium live events, and how TKO plans to grow even further in 2026. Wall Street will get its questions answered during the analyst Q&A — and that’s often where the real headlines happen.
Ringside News will be updating this article in real time with key quotes, major financial revelations, and any notable comments about WWE’s business direction. Keep refreshing. The numbers are about to start talking.
TKO Earnings Call for Full Year 202 Highlights
Ari Emanuel said they are very excited to work with ESPN on WWE Premium Live Events, noting the partnership is still in its early stages. He also praised the launch of Zuffa Boxing and said the company has already completed nearly $1 billion in stock share repurchases. Emanuel added that they feel confident about their position in the market and where the company is headed.
Mark Shapiro also spoke positively about the company’s recent media rights deals involving UFC, WWE, and Zuffa Boxing. He highlighted the new five-year ESPN deal, which includes a 1.8× increase in value, and said it shows the strong potential of their partnership with ESPN as a major destination for premium sports content. He also praised WWE’s Netflix deal and said it has been a major step forward for the company’s media strategy.
They announced a seven-year deal with Paramount that will make all UFC events available to Paramount+ subscribers, with the goal of making UFC content more accessible and growing the audience. Their first event on the platform became the highest-streamed live event in Paramount+ history, and they are now preparing for their CBS debut on March 7.
They said they expect double-digit growth in live event sponsorships in 2026.
They also noted that John Cena’s retirement match set a new record as the highest-grossing WWE arena gate of all time.
They said site fees will be a major part of their future growth strategy. They want to secure site fees for all WWE main roster events, as well as PBR, UFC, and Zuffa Boxing events. They are already receiving about double the site fees compared to when TKO was formed in 2023. They expect site fees to generate between $380 million and $420 million by 2030. They also said their events are in high demand and believe the revenue from site fees should reflect the value they bring to host cities and partners.
They also reviewed the company’s financial results and overall performance.
They then opened the call for the Q&A portion.
When asked who they wanted to win the WBD deal, they joked that they weren’t going to fall into that trap. They praised both sides and said they have no input or control over the outcome. They added that they would be happy to work with either side.
They said they are working with potential corporate partners to help offset the costs of the UFC event at the White House. They made it clear they do not expect to profit directly from the event. Instead, the goal is to create a major spectacle and use it as a platform to grow their audience and expand viewership.
They said they are already ahead of their goals for 2030 and see unlimited opportunities ahead. They also said their sports strongly attract male audiences, while still maintaining a healthy and growing female audience.
Zuffa Boxing could hold up to 16 events this year. They do not have any viewership numbers to share yet. They have global partnerships and international media deals in progress, and they believe it could become a major success for them.
They were asked what lessons were learned from the Royal Rumble in Riyadh as they prepare for WrestleMania. WWE will hold three events in Saudi Arabia in 2026. Nick Khan said the Royal Rumble was the first event ever held at that venue, so there were many things to learn from both an operations and venue standpoint. When WrestleMania 2027 takes place, it will be held at the same location as the Asia Cup that year. WWE’s team will attend the soccer tournament to learn the production details and prepare for WrestleMania.
They believe all of their companies have strong momentum right now. They are confident in live event ticket sales and have long-term media rights deals in place for everything except Zuffa. They see Zuffa as a major opportunity for growth.
That concluded the call.