Published • loading... • Updated
Axsome: Q3 Earnings Snapshot – WTOP News
- On Monday, Fox Corporation reported fiscal first-quarter revenue of $4.57 billion, a 22% year-over-year increase driven by the FIFA World Cup, political advertising, and Tubi streaming growth.
- Advertising revenue surged 47% company-wide, bolstered by midterm election spending exceeding $350 million and World Cup broadcasts, offsetting a "difficult" ratings comparison at Fox News.
- The Television segment, which includes Tubi, generated $2.71 billion in revenue, a 32% increase, while Tubi revenue grew 35% and total view time increased by 23%.
- Net income reached $943 million, or $2.20 per share, prompting shares to pop more than 5%, as Fox CEO Lachlan Murdoch praised the company's "focused strategy" and brand strength.
- Fox continues working to close its pending $22 billion acquisition of Roku, which recently secured shareholder approval and currently awaits final regulatory clearance from the Department of Justice.
Insights by Ground AI
30 Articles
30 Articles
Fox posts massive ad revenue growth on back of World Cup advertising
To the surprise of absolutely no one that watched this summer’s World Cup on Fox, the network saw incredible gains in its advertising revenue this quarter as payments for that commercial inventory continue to roll in. Fox released its quarterly earnings report on Monday morning, and the company indicated it has seen advertising revenue increase…
Fox Corp.'s quarterly profit and revenue grew, driven by increased advertising sales during the FIFA World Cup. Exclusive material for subscribers. To have full access, access the link of the material and register.
·Rio de Janeiro, Brazil
Read Full Article
Coverage Details
Total News Sources30
Leaning Left9Leaning Right1Center9Last UpdatedBias Distribution48% Left, 47% Center
Bias Distribution
- 48% of the sources lean Left, 47% of the sources are Center
48% Left
L 48%
C 47%
Factuality
To view factuality data please Upgrade to Premium
