Endeavor’s total revenue slid 10% in the first quarter to $1.07 billion, but the company swung from a year-ago loss to $2.4 million in net income in the quarter.
“As we emerge from the pandemic, we are witnessing strong demand for all forms of content,” CEO Air Ariel Emanuel said. “Our company was purpose-built to fulfill this demand on a global scale – be it live events and experiences or premium on-screen content.
Along with its quarterly financials, Endeavor also provided 2021 guidance for investors. The company said its full-year revenue will total between $4.76 billion and $4.83 billion . It sees adjusted EBITDA hitting between $735 million and $745 million and said it expects to reduce its debt by $600 million in the third quarter.
Times were notably tougher in the Events, Experiences & Rights unit as well as Representation, with revenue in the two falling 19% and 15%, respectively.