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Fox(FOXA) - 2023 Q4 - Annual Report
2023-08-10 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2023 or o TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission file number 001-38776 FOX CORPORATION (Exact name of registrant as specified in its charter) Delaware 83-1825597 (State or other juri ...
Fox(FOXA) - 2023 Q4 - Earnings Call Transcript
2023-08-08 15:54
Financial Data and Key Metrics Changes - For fiscal 2023, the company reported record annual revenue growth of 7% and EBITDA growth of 8%, reaching $3.19 billion [5][15][17] - Net income attributable to stockholders was $1.24 billion or $2.33 per share, an increase from $1.21 billion or $2.11 per share in fiscal 2022 [17][20] - In Q4 fiscal 2023, total company revenues were $3.03 billion, consistent with Q4 fiscal 2022, while quarterly EBITDA decreased to $735 million from $770 million [15][17] Business Line Data and Key Metrics Changes - Cable networks saw a 3% decrease in revenue year-over-year, with advertising revenues falling 11% due to a softer direct response marketplace [21] - The Television segment reported a 4% growth in quarterly revenues, driven by a 9% increase in affiliate fee revenues, while advertising revenues fell 1% [22] - Tubi experienced significant growth, with revenue up 47% in Q4, driven by a 65% increase in total viewer time [8][19] Market Data and Key Metrics Changes - FOX News maintained its position as the top-rated national cable news channel, with a 35% increase in total viewers since the debut of its new prime time lineup [9][12] - The overall advertising environment showed signs of improvement, with strong demand in categories like automotive and pharmaceuticals, while local pacing remained flat to slightly up [30][32] Company Strategy and Development Direction - The company aims to strengthen Tubi's position in fiscal 2024, focusing on expanding its content library and increasing viewer engagement [8][13] - FOX's strategy emphasizes protecting premium sports content within the pay-TV ecosystem while adapting to changing consumer demands [29][30] - The company plans to continue investing in growth initiatives, particularly in Tubi, while balancing capital returns to shareholders [25][26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strong balance sheet, which supports ongoing capital returns and investment flexibility [13][27] - The company anticipates a strong second half of the calendar year, driven by upcoming sporting events and a favorable advertising environment [12][30] - Management acknowledged macroeconomic uncertainties but remains optimistic about the company's strategic positioning and growth potential [10][11] Other Important Information - The company returned $2 billion of capital through share repurchases and increased its semiannual dividend to $0.26 per share [26][27] - FOX Bet's joint venture was wound down, but the company retains a valuable option in FanDuel and is free to explore partnerships with other betting operators [41][43] Q&A Session Summary Question: Could a sports-centric joint venture make sense for FOX? - Management indicated that their business is similar to ESPN's, focusing on protecting premium sports content within the pay-TV ecosystem while adapting to consumer demands [29][30] Question: Can you provide an update on the overall ad environment? - Management reported strong upfront results with positive trends in national advertising, particularly in automotive and pharmaceuticals, while local pacing remained stable [30][32] Question: What is the company's strategy regarding affiliate fees amidst cord-cutting? - Management expressed confidence in maintaining strong relationships with affiliates and driving industry-leading pricing despite subscriber declines [56]
Fox(FOXA) - 2023 Q3 - Earnings Call Transcript
2023-05-09 15:57
FOX Corporation (NASDAQ:FOX) Q3 2023 Results Conference Call May 9, 2023 8:30 AM ET Company Participants Gabrielle Brown - Head of IR Lachlan Murdoch - Co-Chairman of the Board Steven Tomsic - CFO Conference Call Participants Robert Fishman - MoffettNathanson Ben Swinburne - Morgan Stanley Phil Cusick - JPMorgan John Hodulik - UBS Jessica Reif Ehrlich - Bank of America Operator Ladies and gentlemen, thank you for standing by. Welcome to the FOX Corporation Third Quarter Fiscal Year 2023 Earnings Conference ...
Fox(FOXA) - 2023 Q3 - Quarterly Report
2023-05-08 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission File Number 001-38776 FOX CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdiction of i ...
Fox(FOXA) - 2023 Q2 - Earnings Call Transcript
2023-02-08 17:45
Fox Corporation (NASDAQ:FOX) Q2 2023 Earnings Conference Call February 8, 2023 8:30 AM ET Company Participants Lachlan Murdoch - Executive Chair and CEO John Nallen - COO Steve Tomsic - CFO Gabrielle Brown - Chief IRO Conference Call Participants Robert Fishman - MoffettNathanson Jessica Reif Ehrlich - Bank of America Securities Phil Cusick - JPMorgan Ben Swinburne - Morgan Stanley Doug Mitchelson - Credit Suisse John Hodulik - UBS Operator Ladies and gentlemen, thank you for standing by. Welcome to the Fox ...
Fox(FOXA) - 2023 Q2 - Quarterly Report
2023-02-07 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission File Number 001-38776 FOX CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdiction of i ...
Fox(FOXA) - 2023 Q1 - Earnings Call Transcript
2022-11-01 16:00
Fox Corporation (NASDAQ:FOX) Q1 2023 Earnings Conference Call November 1, 2022 8:30 AM ET Company Representatives Lachlan Murdoch - Executive Chair, Chief Executive Officer John Nallen - Chief Operating Officer Steve Tomsic - Chief Financial Officer Gabrielle Brown - Chief Investor Relations Officer Conference Call Participants Jessica Reif Ehrlich - Bank of America Securities Robert Fishman - MoffettNathanson Ben Swinburne - Morgan Stanley Phil Cusick - JPMorgan Steven Cahall - Wells Fargo John Hodulik - U ...
Fox(FOXA) - 2022 Q4 - Annual Report
2022-08-12 12:04
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2022 or o TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-38776 FOX CORPORATION (Exact Name of Registrant as Spe ...
Fox(FOXA) - 2022 Q4 - Earnings Call Transcript
2022-08-10 16:16
Fox Corporation (NASDAQ:FOX) Q2 2022 Earnings Conference Call August 10, 2022 8:30 AM ET Company Participants Gabrielle Brown - Chief Investor Relations Officer Lachlan Murdoch - Executive Chair & Chief Executive Officer Steve Tomsic - Chief Financial Officer Conference Call Participants John Hodulik - UBS Phil Cusick - JPMorgan Robert Fishman - MoffettNathanson Ben Swinburne - Morgan Stanley Doug Mitchelson - Credit Suisse Operator Ladies and gentlemen, thank you for standing by. Welcome to the Fox Corpora ...