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Investing.com -- Endeavor Group Holdings Inc (NYSE:EDR). reported fourth-quarter results that exceeded analyst expectations for revenue, sending its stock up 3.9% in after-hours trading.
The global sports and entertainment company posted revenue of $1.57 billion for the quarter, surpassing the consensus estimate of $1.53 billion. This represents a 2.6% increase compared to the same quarter last year. However, Endeavor reported a net loss of $237.2 million, or ($0.64) per share, falling short of analyst expectations for earnings of $0.41 per share.
For the full year 2024, Endeavor generated revenue of $7.111 billion, up from $5.268 billion in 2023, marking a 35% YoY increase. The company's Owned Sports Properties segment, which includes UFC, WWE, and Professional Bull Riders (PBR), was a key driver of growth, with revenue rising 64% YoY to $2.985 billion.
"We closed out 2024 with continued momentum reflecting strong demand for premium content and live events," said Ariel Emanuel, CEO of Endeavor. "Over the next few months, our focus remains on completing our sale of IMG, On Location, and PBR to TKO; closing our take-private transaction with Silver Lake; and ensuring Endeavor is well-positioned for long-term success in representation."
The company's Representation segment, which includes talent agency WME, also saw growth, with revenue increasing 9% YoY to $1.688 billion for the full year.
Endeavor ended the year with $1.201 billion in cash and cash equivalents, up from $1.004 billion at the end of the third quarter. Total debt stood at $5.678 billion as of December 31, 2024.
The company is currently in the process of being acquired by Silver Lake in a take-private transaction valued at $27.50 per share, expected to close by the end of the first quarter of 2025.
