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Despite doubling its revenue from a year ago and a record first half for the UFC, Endeavor suffered a loss of $ 319 million in second quarter profits.
The losses were primarily due to high operating and selling costs, and come after a quarter in which it made a small profit of $ 2.4 million. Revenue for the most recent quarter was $ 1.1 billion, almost double what it was a year ago ($ 650 million). The UFC also had its biggest first half in history. The turnover is in line with analysts’ expectations.
Despite the continued challenges that the Delta variant of COVID-19 poses to Endeavor’s core businesses, the company has slightly raised its forecast for the remainder of the year from $ 4.80 billion to $ 4.85 billion, from $ 4.85 billion to $ 4.85 billion. from $ 4.76 billion to $ 4.83 billion.
Endeavor has paid off $ 600 million of its massive debt burden, which now stands at $ 5.35 billion as of June 30.
“Despite the continued challenges brought about by the pandemic, our business has once again shown resilience, due to
in large part to our global portfolio of premium assets and the creativity of our employees and partners, ”said Ariel Emanuel, CEO of Endeavor. “When you look at the age-old trends defining our industries – marked by the growing demand for content, the increased value of the talents and brands behind that content, and the desire for people to come together around live events and experiences – Endeavor remains firmly and unique. positioned for a solid second half of 2021.
Owned Sports Properties revenue increased $ 106.6 million, or 70.0%, to $ 258.9 million, from the second quarter of 2020. The increase was primarily due to media rights fees and the increase in the number of UFC and PBR events, which included increased ticket sales due to the lifting of attendance restrictions during the quarter. Events, Experiences and Rights segment revenue increased by $ 408.8 million to $ 528.7 million from the second quarter of 2020. This increase is primarily due to higher broadcast rights due the return of a full schedule of European football matches in 2021.
Representation segment revenues increased $ 135.4 million, or 70.2%, to $ 328.2 million, from the second quarter of 2020, primarily due to increased project deliveries at Endeavor Content and gradual growth in customer commissions.
Endeavor went public on April 29 and raised more than $ 500 million, with an additional private placement of $ 1.7 billion, the latter of which was used to fund its buyout from the UFC.
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