Endeavor Swings to Small Profit in First Quarterly Earnings

Ari Emanuel-led company saw its revenue dip slightly

Tim Baysinger

Getty Images

Endeavor released its first quarterly earnings as a public company on Wednesday.

Revenue for the Ari Emaneul-led company was $1.07 billion, down slightly from the same quarter in 2020 ($1.19 billion), which came before the pandemic’s impact. Net Income was $2.4 million compared to Net Loss of $51.3 million in the first quarter of 2020.

“As we emerge from the pandemic, we are witnessing strong demand for all forms of content,” remarked Ariel Emanuel, CEO, Endeavor. “Our company was purpose-built to fulfill this demand on a global scale – be it live events and experiences or premium on-screen content. While our first quarter results were still negatively impacted by COVID-19, we are well positioned to benefit from the pent-up demand for content, while maintaining our long-term focus on secular trends and high-growth areas that have been both validated and amplified by the pandemic.”

Endeavor went public on April 29.

More to come…

Source: Read Full Article