TKO raises its full-year outlook again as UFC revenue jumps 60% in the third quarter

UFC revenue rose 60% to $519.2 million, while WWE revenue fell 1%, according to the company and The Hollywood Reporter. Net income was $277.9 million, up from $171.1 million a year earlier.

TKO now expects full-year revenue of $5.79 billion to $5.83 billion and adjusted EBITDA of $2.295 billion to $2.315 billion, the company said. Deadline reported that the results topped Wall Street forecasts.

Why it matters: UFC drove most of the growth, and TKO President Mark Shapiro said the vast majority of the company's existing revenue is locked in for the next five to seven years.