Analyst Consensus ?
ConsensusBuy19 ratings
Bullish1789.5%
Neutral210.5%
Bearish00.0%
TKO Group Holdings, Inc. · TKO · FY2024 Q3 · Calendar Q4 2024
TKO pairs record events with higher guidance and broader sports assets
The quarter supports a constructive operating thesis: demand for premium live events, sponsorships, international expansion, and media distribution remained supportive, while the acquisition of PBR, On Location, and IMG adds growth opportunities. The evidence is not one-sided: revenue declined modestly, and execution depends on integration, event timing, media-rights relationships, and cash-flow conversion.
Reported After market closeNYSECommunication Services
$12.52B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.53
Consensus $0.56
EPS surprise
-5.4%
Reported versus consensus
Reported revenue
$681.3M
Consensus $604.6M
Revenue surprise
+12.7%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
-1.9%
Event window
SPY move
+0.8%
Same window
Abnormal move
-2.7%
Stock minus SPY
Volume
1.9×
Versus trailing sessions
Subsequent drift
+22.2%
Up to 20 sessions
TKOSPY benchmark
Ask FN2 about TKO FY2024 Q3
Transcript, numbers and history already loaded
Why did TKO fall 1.9% after missing EPS estimates in FY2024 Q3?What changed in TKO's guidance and outlook in FY2024 Q3?Give me the bull and bear case for TKO after FY2024 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior quarter, the narrative shifted from primarily UFC and WWE event momentum and expected Netflix distribution to a broader sports-platform strategy. Management highlighted the PBR, On Location, and IMG acquisition, raised guidance to the upper end of prior ranges, and announced shareholder-return plans; the UFC antitrust settlement and integration execution add offsetting obligations and risks.
Guidance delta
Management raised full-year revenue and adjusted EBITDA guidance to the upper end of the prior ranges.
Key takeaways
- Record UFC and WWE events supported sponsorship and merchandise revenue.
- Management cited international expansion and media-rights relationships as growth drivers.
- The PBR, On Location, and IMG acquisition broadens TKO across sports rights, hospitality, and production.
- Management announced a share repurchase program and quarterly dividend, while cash-flow conversion remains a focus.
Management priorities
- Execute the PBR, On Location, and IMG integration.
- Expand international live events, venue partnerships, sponsorships, and media distribution.
- Deliver cost synergies while maintaining event economics and cash-flow conversion.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$171.23Previous close
$98Low
$205.5Average
$250High
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Oct 27, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| BTIG | Buy | Buy | Maintain | Oct 21, 2026 |
| Guggenheim | Buy | Buy | Maintain | Oct 20, 2026 |
| Susquehanna | Positive | Positive | Maintain | Oct 16, 2026 |
| Bernstein | Outperform | Outperform | Maintain | Sep 16, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Aug 4, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Jul 21, 2026 |
| Seaport Global | Buy | Neutral | Upgrade | Jul 14, 2026 |
| TD Cowen | Buy | Buy | Maintain | Mar 11, 2026 |
| Wolfe Research | Peer Perform | Outperform | Downgrade | Mar 5, 2026 |
| UBS | Buy | Buy | Maintain | Feb 26, 2026 |
| Baird | Outperform | Outperform | Maintain | Sep 16, 2025 |
| Citigroup | Buy | Buy | Maintain | Aug 15, 2025 |
| Roth Capital | Buy | Buy | Maintain | Aug 12, 2025 |
| B of A Securities | Buy | Buy | Maintain | Aug 12, 2025 |
| Goldman Sachs | Buy | Buy | Maintain | May 12, 2025 |
| Benchmark | Hold | Hold | Maintain | Mar 3, 2025 |
| Pivotal Research | Buy | Buy | Maintain | Nov 26, 2024 |
| Roth MKM | Buy | Buy | Maintain | Oct 16, 2024 |
| Jefferies | Buy | Buy | Maintain | Apr 12, 2024 |
Named analyst price targets
Upside is calculated against the persisted previous close $171.23. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Guggenheim | Curry Baker | $228 | $174.24 | +33.2% | Oct 20, 2026 |
| Arete Research | Analyst unavailable | $208 | $174.24 | +21.5% | Oct 20, 2026 |
| Susquehanna | Joseph Stauff | $224 | $176.02 | +30.8% | Oct 16, 2026 |
| Roth Capital | Analyst unavailable | $230 | $183.91 | +34.3% | Aug 4, 2026 |
| Morgan Stanley | Sean Diffley | $230 | $183.91 | +34.3% | Aug 4, 2026 |
| Bernstein | Ian Moore | $235 | $186.08 | +37.2% | Jul 28, 2026 |
| Guggenheim | Analyst unavailable | $230 | $184.56 | +34.3% | Jul 15, 2026 |
| Seaport Global | David Joyce | $210 | $180.96 | +22.6% | Jul 14, 2026 |
| Roth Capital | Analyst unavailable | $228 | $186.25 | +33.2% | May 4, 2026 |
| Morgan Stanley | Analyst unavailable | $225 | $186.09 | +31.4% | Apr 30, 2026 |
| Bernstein | Ian Moore | $240 | $186.5 | +40.2% | Apr 27, 2026 |
| Bernstein | Analyst unavailable | $250 | $213.28 | +46.0% | Feb 19, 2026 |
| BTIG | Analyst unavailable | $237 | $213.28 | +38.4% | Feb 19, 2026 |
| Roth Capital | Analyst unavailable | $240 | $210.38 | +40.2% | Feb 12, 2026 |
| Susquehanna | Joseph Stauff | $251 | $203.27 | +46.6% | Jan 19, 2026 |
| BTIG | Analyst unavailable | $250 | $214.17 | +46.0% | Dec 31, 2025 |
| Morgan Stanley | Analyst unavailable | $210 | $211.62 | +22.6% | Dec 18, 2025 |
| Wolfe Research | Analyst unavailable | $227 | $205.22 | +32.6% | Dec 15, 2025 |
| Susquehanna | Analyst unavailable | $230 | $197 | +34.3% | Dec 10, 2025 |
| Susquehanna | Joseph Stauff | $229 | $178.97 | +33.7% | Nov 6, 2025 |
| Seaport Global | Analyst unavailable | $214 | $191.21 | +25.0% | Oct 15, 2025 |
| BTIG | Analyst unavailable | $235 | $198.15 | +37.2% | Oct 6, 2025 |
| Bernstein | Analyst unavailable | $230 | $197.35 | +34.3% | Oct 6, 2025 |
| Guggenheim | Analyst unavailable | $225 | $198 | +31.4% | Oct 3, 2025 |
| Morgan Stanley | Benjamin Swinburne | $205 | $195.79 | +19.7% | Sep 25, 2025 |
| UBS | Analyst unavailable | $235 | $201.38 | +37.2% | Sep 17, 2025 |
| Robert W. Baird | Vikram Kesavabhotla | $250 | $203.14 | +46.0% | Sep 16, 2025 |
| Robert W. Baird | Vikram Kesavabhotla | $225 | $194 | +31.4% | Sep 5, 2025 |
| Roth Capital | Eric Handler | $210 | $179.82 | +22.6% | Aug 12, 2025 |
| Susquehanna | Joseph Stauff | $180 | $160.43 | +5.1% | Apr 28, 2025 |
| Seaport Global | Analyst unavailable | $164 | $152.3 | -4.2% | Mar 5, 2025 |
| Pivotal Research | Jeffrey Wlodarczak | $195 | $159.55 | +13.9% | Feb 27, 2025 |
| Goldman Sachs | Stephen Laszczyk | $165 | $151.97 | -3.6% | Jan 23, 2025 |
| Morgan Stanley | Benjamin Swinburne | $128 | $142.14 | -25.2% | Dec 18, 2024 |
| Roth Capital | Eric Handler | $148 | $125.36 | -13.6% | Oct 16, 2024 |
| Seaport Global | David Joyce | $137 | $127.17 | -20.0% | Oct 9, 2024 |
| Pivotal Research | Jeffrey Wlodarczak | $170 | $114.99 | -0.7% | Sep 13, 2024 |
| Bank of America Securities | Brent Navon | $140 | $117.98 | -18.2% | Aug 20, 2024 |
| Morgan Stanley | Benjamin Swinburne | $118 | $116.92 | -31.1% | Aug 9, 2024 |
| Jefferies | Randal Konik | $150 | $119.54 | -12.4% | Aug 8, 2024 |
| Morgan Stanley | Benjamin Swinburne | $115 | $111.06 | -32.8% | Jul 15, 2024 |
| Roth Capital | Eric Handler | $121 | $100.41 | -29.3% | May 9, 2024 |
| MoffettNathanson | Robert Fishman | $98 | $97.06 | -42.8% | Apr 29, 2024 |
| Roth Capital | Eric Handler | $112 | $97.66 | -34.6% | Apr 12, 2024 |
| Jefferies | Randal Konik | $131 | $97.66 | -23.5% | Apr 12, 2024 |
| Goldman Sachs | Stephen Laszczyk | $102 | $94.9 | -40.4% | Apr 8, 2024 |
| Wolfe Research | Peter Supino | $106 | $86.42 | -38.1% | Mar 21, 2024 |
| Wolfe Research | Peter Supino | $107 | $79.79 | -37.5% | Mar 15, 2024 |
Track every rating change on TKO the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationTKO Group Holdings, Inc. stands as a significant enterprise within the sports and entertainment industries. Its business activities are primarily organized into four core divisions: Media and Content, Live Events, Sponsorships, and Consumer Products Licensing. The company is responsible for creating a diverse range of content, including live spectacles, television programs, and both lengthy and concise video productions.…
Historical context
All TKO earningsCommunication Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| VZ Verizon Communications Inc. | FY2026 Q3 · Calendar Q4 2026 | +3.1% | -3.5% | Verizon posts strong Q3 as AI Connect contracts expand |
| RCI Rogers Communications Inc. | FY2026 Q3 · Calendar Q4 2026 | +9.5% | -2.4% | Rogers Reaffirms 2026 Guidance as Capex Falls and MLSE Monetization Advances |
| OMC Omnicom Group Inc. | FY2026 Q3 · Calendar Q4 2026 | +2.2% | +2.6% | Omnicom pairs resilient demand with AI and integration progress |
| SPOT Spotify Technology S.A. | FY2026 Q3 · Calendar Q4 2026 | -11.6% | +11.1% | Spotify: resilient Q3 demand, with AI and audiobooks central to growth |
| CMCSA Comcast Corporation | FY2026 Q3 · Calendar Q4 2026 | +8.5% | +3.4% | Comcast balances wireless and Peacock gains against Q4 costs |
Latest beats and misses
Who reports nextBeat on EPS
- VZFY2026 Q3 · October 26, 2026+3.1% EPS-3.5% move
- CXFY2026 Q3 · October 26, 2026+12.0% EPS-0.1% move
- CDNSFY2026 Q3 · October 26, 2026+2.9% EPS+1.8% move
- BAHFY2027 Q2 · October 23, 2026+18.9% EPS-0.3% move
- FCNCAFY2026 Q3 · October 23, 2026+19.9% EPS+8.2% move
- FCNCNFY2026 Q3 · October 23, 2026+19.9% EPS+0.2% move
Missed on EPS
- KOFFY2026 Q3 · October 26, 2026-9.0% EPS-1.9% move
- INFYFY2027 Q2 · October 23, 2026-4.8% EPS-6.6% move
- BBDFY2026 Q3 · October 22, 2026-7.7% EPS+3.0% move
- SNAFY2026 Q3 · October 22, 2026-5.9% EPS-3.4% move
- SPOTFY2026 Q3 · October 22, 2026-11.6% EPS+11.1% move
- VRSNFY2026 Q3 · October 22, 2026-2.0% EPS-0.9% move
Get the TKO recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2024-11-10T18:38:36.707185+00:00
- Polygon adjusted daily market bars · 2026-10-27T11:00:45.187563+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-27T11:00:45.185875+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-27. For educational purposes only; not investment advice.