Endeavor Group Holdings Inc. lifted its revenue guidance for the year, as the entertainment company pointed to a growing demand for content and live events.
The company, which represents some of Hollywood’s biggest stars and owns Ultimate Fighting Championship, said it expects revenue in 2021 to range from $4.8 billion to $4.85 billion this year. That is a notch up from the $4.76 billion to $4.83 billion it had previously forecast.
Revenue for the second quarter increased to $1.11 billion, compared with $462 million a year earlier. Analysts polled by FactSet expected revenue of $1.14 billion.
“As you look at the secular trends defining our industries—marked by the growing demand for content, the increased value of the talent and brands behind that content, and the desire of people to come together around live events and experiences—Endeavor remains firmly and uniquely positioned for a strong second half of 2021,” Chief Executive Ariel Emanuel said in prepared remarks.
During a call with investors on Monday, Finance Chief Jason Lublin said the company is closely watching the Covid-19 Delta variant, but is encouraged by business trends for the second half of the year.
