Core Insights - Fox Corporation (FOXA) reported strong first-quarter fiscal 2025 results, with adjusted earnings per share of $1.45, exceeding the Zacks Consensus Estimate by 29.5% and reflecting a year-over-year increase of 33.02% [1] - Total revenues rose 11.13% year over year to $3.5 billion, surpassing the consensus mark by 5.6% [1] Revenue Breakdown - Affiliate fees, accounting for 51.71% of total revenues, increased by 5.92% to $1.84 billion, driven by a 10% growth in the Television segment and a 3% growth in the Cable Network Programming segment [1] - Advertising revenues, making up 37.29% of total revenues, grew by 10.75% year over year to $1.33 billion, primarily due to higher political advertising revenues, strong performance of Tubi, and the impact of major sports events [2] - Other revenues, which represent 11% of total revenues, surged by 47% year over year to $392 million [3] Segment Performance - Cable Network Programming revenues increased by 15.14% year over year to $1.59 billion, with advertising revenues up 10.69% and other revenues rising significantly due to sports sublicensing [4] - Television revenues grew by 9.72% year over year to $1.95 billion, with advertising revenues increasing by 10.77% and affiliate fees rising by 9.66% [5] Operating Performance - Operating expenses rose by 8.38% year over year to $2.02 billion, but as a percentage of revenues, they contracted by 1295 basis points to 58.54% [6] - Total adjusted EBITDA increased by 20.60% year over year to $1.05 billion, with an adjusted EBITDA margin expanding by 231 basis points to 29.41% [7] Financial Position - As of September 30, 2024, Fox had $4.05 billion in cash and cash equivalents, down from $4.31 billion as of June 30, 2024, with long-term debt remaining at $600 million [8] Stock Performance - Fox currently holds a Zacks Rank 4 (Sell), with shares gaining 41.2% year to date, outperforming the Zacks Consumer Discretionary sector's increase of 5.3% [9]

About this content About Oliver Haill Oliver has been writing about companies and markets since the early 2000s, cutting his teeth as a financial journalist at Growth Company Investor with a focusing on AIM companies and small caps, before a few years later becoming a section editor and then head of research. He joined Proactive after a couple of years freelancing, where he worked for the Financial Times Group, ITV, Press Association, Reuters sports desk, the London Olympic News Service, Rugby World Cup ...

For the quarter ended September 2024, Fox (FOXA) reported revenue of $3.56 billion, up 11.1% over the same period last year. EPS came in at $1.45, compared to $1.09 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $3.37 billion, representing a surprise of +5.82%. The company delivered an EPS surprise of +29.46%, with the consensus EPS estimate being $1.12.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expec ...

Revenue Growth - Total revenues increased by $357 million or 11% for the three months ended September 30, 2024, compared to the same period in 2023, reaching $3,564 million[87]. - Affiliate fee revenue rose by $103 million or 6% to $1,843 million, driven by higher average rates per subscriber and increased fees from affiliated television stations[88]. - Advertising revenue grew by $129 million or 11% to $1,329 million, largely due to higher political advertising revenue related to the 2024 elections[88]. - Other revenues surged by $125 million or 47% to $392 million, primarily from increased sports sublicensing revenue[88]. - Cable Network Programming segment revenues increased by $210 million or 15% for the three months ended September 30, 2024, compared to the same period in 2023, reaching $1,597 million[99]. - Television segment revenues increased by $173 million or 10% to $1,953 million, with advertising revenue up by $98 million or 11% due to higher political advertising and NFL ratings[102]. - Adjusted EBITDA for the three months ended September 30, 2024, was $1,048 million, an increase of $179 million or 21% compared to $869 million in the same period of 2023[111]. Operating Expenses - Operating expenses increased by $156 million or 8% to $2,018 million, mainly due to higher sports programming rights amortization and newsgathering costs[89]. - Operating expenses increased by $53 million or 8% in the Cable Network Programming segment, primarily due to higher sports programming rights costs[101]. Net Income and Financial Performance - Net income for the three months ended September 30, 2024, increased by $417 million, reaching $832 million, attributed to an unrealized gain on investments and higher Segment EBITDA[93]. - The Company reported net income of $832 million for the three months ended September 30, 2024, compared to $415 million in the prior year[110]. Cash and Dividends - The Company has approximately $4.1 billion in cash and cash equivalents as of September 30, 2024, along with an unused $1.0 billion revolving credit facility[112]. - Net cash provided by operating activities increased to $158 million for the three months ended September 30, 2024, compared to $1 million in the same period of 2023[115]. - The Company declared a semi-annual dividend of $0.27 per share during the three months ended September 30, 2024[118]. Risks and Uncertainties - The company anticipates potential declines in advertising expenditures due to various economic factors and changes in consumer behavior[124]. - The company faces risks related to the competitive nature of the industry and the popularity of its content, particularly sports programming[125]. - The company is subject to risks from the inability to renew programming rights on favorable terms, especially for sports[125]. - The company acknowledges the potential impact of labor disputes involving professional sports leagues on its operations[125]. - The company has identified risks associated with the degradation or failure of its network and information systems[125]. - The company is exposed to risks from content piracy and the protection of its intellectual property rights[125]. - Forward-looking statements are subject to inherent risks and uncertainties, including economic conditions and regulatory changes[124]. - The company does not undertake any obligation to update forward-looking statements unless required by law[126]. Tax and Interest - The effective tax rate for the three months ended September 30, 2024, was 25%, higher than the statutory rate of 21% due to state taxes[92]. - Interest expense increased by $8 million or 19% to $50 million, reflecting higher weighted-average interest rates on senior notes[91]. Strategic Considerations - The Company is evaluating potential acquisitions and dispositions of certain businesses and assets, which may involve cash or securities[114]. - No material changes to critical accounting policies and estimates were reported in the 2024 Form 10-K[122]. - The company has not reported any material changes in market risks since the 2024 Form 10-K[127].

Fox Corp. beat Wall Street analysts’ consensus forecast in its fiscal first quarter of 2025, with a swell of political ad spending along with strength at Fox Sports driving results. Total revenue climbed 11% from the year-earlier period, hitting $3.56 billion, while adjusted net income zoomed to $1.45 per share from $1.09 in the year-ago quarter. Advertising revenue increased 11%, with the company crediting a surge in political ads at its local TV stations, along with continued growth at Tubi, higher ratin ...

Exhibit 99.1 EARNINGS RELEASE FOR THE QUARTER ENDED SEPTEMBER 30, 2024 FOX REPORTS FIRST QUARTER FISCAL 2025 REVENUES OF $3.56 BILLION, NET INCOME OF $832 MILLION, AND ADJUSTED EBITDA OF $1.05 BILLION NEW YORK, NY, November 4, 2024 – Fox Corporation (Nasdaq: FOXA, FOX; "FOX" or the "Company") today reported financial results for the three months ended September 30, 2024. The Company reported total quarterly revenues of $3.56 billion, an increase of $357 million or 11% from the amount reported in the prior y ...

NEW YORK, Nov. 4, 2024 /PRNewswire/ -- Fox Corporation (Nasdaq: FOXA, FOX; "FOX" or the "Company") today reported financial results for the three months ended September 30, 2024.The Company reported total quarterly revenues of $3.56 billion, an increase of $357 million or 11% from the amount reported in the prior year quarter. Affiliate fee revenues increased 6%, driven by 10% growth at the Television segment and 3% growth at the Cable Network Programming segment. Advertising revenues increased 11%, primari ...

DULUTH, Ga., Oct. 31, 2024 (GLOBE NEWSWIRE) -- Fox Factory Holding Corp. (NASDAQ: FOXF) (“FOX” or the “Company”), a premium brand and a global leader in the design, engineering and manufacturing of performance-defining products and systems for customers worldwide, today reported financial results for the third fiscal quarter ended September 27, 2024. Third Quarter Fiscal 2024 Highlights Net sales for the third quarter of fiscal 2024 were $359.1 million, a sequential increase of 3.1% and an 8.5% increase ove ...

Fox (FOXA) is set to report first-quarter fiscal 2025 results on Nov. 4.For the quarter, the Zacks Consensus Estimate for earnings is pegged at $1.12 per share, unchanged in the past 30 days. The figure indicates a 2.75% increase from the year-ago reported figure.The consensus mark for revenues is pegged at $3.37 billion, implying 5.22% growth from the year-ago quarter’s reported figure.The company’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being ...

Calgary, Alberta--(Newsfile Corp. - October 31, 2024) - Copper Fox Metals Inc. (TSXV: CUU) (OTCQX: CPFXF) (FSE: HPU) ("Copper Fox" or the "Company") and its wholly owned subsidiary, Desert Fox Mineral Mountain Co. ("Desert Fox"), are pleased to provide an update on the permitting process to complete a drilling program (see news release dated May 22, 2024) on its 100% owned Mineral Mountain porphyry copper project (2,692.4 ha) located within the Mineral Mountain Mining District, Arizona. The Mineral Mountain ...