Endeavor Q3 Results Hit By Hollywood Strikes, But Sports Rights Gains Help Total Revenue Beat Wall Street Expectations
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deadline.comEndeavor posted a mixed bag of third-quarter results, with its Representation division showing negative impact from the WGA and SAG-AFTRA strikes.
Total revenue climbed 10% over the year-ago quarter to reach $1.34 billion, with sports rights gains helping the top line exceed Wall Street analysts’ expectations.
The bottom line, though, was less rosy, with net losses widening to $116 million from $12.5 million in the 2022 quarter, or 25 cents a share on a diluted basis, from 4 cents.
Representation segment revenue slipped a bit less than 1% to $385.6 million, with the WME parent blaming the downturn on the strikes.
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