Endeavor Group Falls To Loss In Q2

(RTTNews) - Endeavor Group Holdings, Inc. (EDR) Thursday announced net loss for the second quarter compared to profit last year. The recent quarter included Loss from discontinued operations and provision for income tax loss from discontinued operations.

The net loss for the quarter was $214.518 million or $0.70 per share compared to profit of $403.174 million or $1.29 per share a year ago.

On average, five analysts polled by Thomson Reuters expected the company to earn $0.5 per share. Analysts estimates typically exclude special items.

Revenue for the quarter increased to $1.751 billion from $1.305 billion a year ago. Analysts were looking for $1.9 billion. The company said segment revenue was primarily impacted by a decrease of $91 million from the sale of IMG Academy in June 2023, as well as by the timing of certain events including the Miami Open.