Fox Corporation reported a significant increase in third-quarter revenue, reaching $4.37 billion, up 27% year-over-year, driven by a 65% surge in advertising revenue to $1.2 billion. This growth was largely attributed to the broadcast of Super Bowl LIX, alongside contributions from the Tubi streaming service, which saw an 18% increase in viewing time and a 35% rise in revenue, and Fox News, which added over 200 new advertisers since Election Day. Despite the revenue growth, Fox's net income for the quarter fell to $354 million from $704 million in the previous year, primarily due to higher operating expenses, including increased costs for sports programming rights and production related to the Super Bowl. Fox's traditional TV business saw its revenue increase by 40% to $2.7 billion, while the cable operations revenue rose 11% to $1.64 billion. Affiliate fees also saw a modest increase of 3%. Tubi, which reached $1 billion in revenue for the trailing 12 months, set a streaming record during the Super Bowl with 15.5 million peak concurrent streaming viewers. During the earnings call, CEO Lachlan Murdoch highlighted the company's strong free cash flow and emphasized Fox's central role in the U.S. media landscape, expressing confidence in the company's strategy and assets to drive long-term shareholder value.
Fox Corporation gana 311,3 millones de euros en su tercer trimestre, un 48% menos, por el alza de los gastos https://t.co/Y88MUAOeiC
Fox Corporation $FOX Q3 FY25 Earnings – EPS: $1.10 vs $0.87 est – Revenue: $4.37B vs $4.17B est – Strong performance in broadcasting and cable - Results exceeded Wall Street expectations https://t.co/FZs9FnVhSm
Tubi Total Viewing Time Up 18% Following Super Bowl Boost https://t.co/jinCKDyGj5