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Endeavor Stock Rises; Revenue Outlook Lifted as UFC Posts Record Half

Endeavor Group's Ultimate Fighting Championship reported record revenue for the first half.
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Endeavor Group  (EDR) - Get Endeavor Group Holdings, Inc. Class A Report shares jumped on Tuesday after the entertainment, sports and media company lifted its revenue guidance.

The Ultimate Fighting Championship owner, based in Beverly Hills, Calif., said demand for content and live events is growing. 

The company reported second-quarter earnings of 19 cents a share on revenue of $1.11 billion. Analysts were expecting earnings of 3 cents a share on revenue of $1.14 billion.

Endeavor shares at last check were 8.4% higher at $25.04. The company went public in April.

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Endeavor said it expected 2021 revenue of $4.8 billion to $4.85 billion, up from its previous view of between $4.76 billion and $4.83 billion. 

Chief Executive Ariel Emanuel identified growing demand for content, increased value of the talent and brands behind that content, and people's desire to experience live events as the secular trends driving Endeavor's improved outlook. 

"Endeavor remains firmly and uniquely positioned for a strong second half of 2021," Emanuel said. Emanuel is brother of former Chicago Mayor Rahm Emanuel. 

The company's UFC segment put on three sold-out pay-per-view events, leading to the biggest half for revenue in the mixed martial arts league's history. 

For last year, Endeavor posted a net loss of $625.3 million, wider than the net loss of $530.7 million in 2019. Revenue in pandemic-hammered 2020 fell to $3.48 billion from $4.57 billion in the year earlier.