Endeavor First Quarter Buoyed By Return Of Live Events, Talent Representation

deadline.com:

Endeavor sales jumped 38% to nearly $1.5 billion and the company reported net income of $518 million as talent representation and live events jumped.

EPS was $1.19 for the first quarter ended in March, a year after the talent agency, UFC owner and live event operator went public in an IPO.Its stock was steady until recently, pulled down by broader market turmoil and new jitters around streaming economics.

Today it bucked a down market, rising 1.83% to close at $18.35.The company cited demand for clients across premium content and live events, including comedy and the resumption of concert touring that was hit hard by Covid.

Representation segment revenue of $357 million was up 44% and adjusted EBITDA, a kind of operating income, jumped 65% to $102 million.Events, Experiences & Rights revenue of $826 million rose 53% driven by the return of more full-capacity live events, including Super Bowl LVI, the Miami Open, the NCAA Final Four and Frieze LA, as well as $38 million in revenue from the acquisition of NCSA.