[Executive Summary](index=1&type=section&id=Executive%20Summary) This section provides a high-level overview of Fox Corporation's strong financial performance for fiscal year 2025, including key financial highlights and strategic initiatives [Fiscal 2025 Highlights (Q4 & Full Year)](index=1&type=section&id=Fiscal%202025%20Highlights%20(Q4%20%26%20Full%20Year)) Fox Corporation reported strong financial results for both the fourth quarter and the full fiscal year 2025, demonstrating significant growth in revenues, net income, and Adjusted EBITDA, driven by broad-based strength across its businesses Fourth Quarter Fiscal 2025 Key Financials: | Metric | Q4 FY2025 | Q4 FY2024 | Change ($M) | Change (%) | | :---------------- | :-------- | :-------- | :---------- | :--------- | | Revenues | $3.29B | $3.09B | $195 | 6% | | Net Income | $719M | $320M | $399 | 125% | | Adjusted EBITDA | $939M | $773M | $166 | 21% | Full Year Fiscal 2025 Key Financials: | Metric | FY2025 | FY2024 | Change ($B) | Change (%) | | :---------------- | :----- | :----- | :---------- | :--------- | | Revenues | $16.30B | $13.98B | $2.32 | 17% | | Net Income | $2.29B | $1.55B | $0.74 | 48% | | Adjusted EBITDA | $3.62B | $2.88B | $0.74 | 26% | [CEO Commentary & Strategic Initiatives](index=1&type=section&id=CEO%20Commentary%20%26%20Strategic%20Initiatives) Executive Chair and CEO Lachlan Murdoch highlighted fiscal 2025 as an outstanding year with record financial results and strategic investments in digital growth assets - Fiscal 2025 was an outstanding year for FOX, achieving **record financial results** and making important investments in digital growth assets[3](index=3&type=chunk) - The company enters fiscal 2026 with solid operational and financial momentum, anticipating the launch of FOX One[3](index=3&type=chunk) - Board authorized a **$5 billion increase** to the share repurchase authorization, bringing the total to **$12 billion**[3](index=3&type=chunk)[21](index=21&type=chunk) - Semi-annual dividend increased to **$0.28 per share**[3](index=3&type=chunk)[20](index=20&type=chunk) [Company-Wide Financial Performance](index=1&type=section&id=Company-Wide%20Financial%20Performance) This section details Fox Corporation's consolidated financial results for the fourth quarter and full fiscal year 2025, including revenue breakdowns and Adjusted EBITDA performance [FOURTH QUARTER COMPANY RESULTS](index=1&type=section&id=FOURTH%20QUARTER%20COMPANY%20RESULTS) For the fourth quarter of fiscal 2025, Fox Corporation reported a 6% increase in total revenues to $3.29 billion, driven by growth across affiliate fees, advertising, and other revenues Q4 FY2025 Revenue Growth by Component: | Revenue Type | Change (%) | | :----------- | :--------- | | Affiliate fee | 3% | | Advertising | 7% | | Other | 33% | - Advertising revenues increased primarily due to continued digital growth led by the Tubi AVOD service, and stronger news ratings and pricing, partially offset by the absence of prior year UEFA European Championship and CONMEBOL Copa América broadcasts[4](index=4&type=chunk) - Net income attributable to Fox Corporation stockholders was **$717 million ($1.57 per share)**, up from **$319 million ($0.68 per share)** in the prior year quarter[5](index=5&type=chunk) - Adjusted EBITDA increased by **21% to $939 million**, partially offset by higher entertainment programming costs, digital content costs, and corporate expenses, but benefited from lower sports programming rights amortization and production costs[5](index=5&type=chunk) [FULL YEAR COMPANY RESULTS](index=2&type=section&id=FULL%20YEAR%20COMPANY%20RESULTS) Fox Corporation's full fiscal year 2025 revenues grew 17% to $16.30 billion, with significant contributions from advertising, affiliate fees, and other revenues Full Year FY2025 Revenue Growth by Component: | Revenue Type | Change (%) | | :----------- | :--------- | | Affiliate fee | 5% | | Advertising | 26% | | Other | 47% | - Advertising revenues increased primarily due to the impact of Super Bowl LIX, higher political advertising revenues, continued digital growth led by the Tubi AVOD service, and stronger news pricing and ratings[6](index=6&type=chunk) - Net Income attributable to Fox Corporation stockholders was **$2.26 billion ($4.91 per share)**, up from **$1.50 billion ($3.13 per share)** in the prior year[7](index=7&type=chunk) - Full year Adjusted EBITDA increased by **26% to $3.62 billion**, partially offset by higher sports programming rights amortization and production costs, including Super Bowl LIX, and higher digital content costs[8](index=8&type=chunk) [REVIEW OF OPERATING RESULTS](index=3&type=section&id=REVIEW%20OF%20OPERATING%20RESULTS) This section provides a detailed tabular breakdown of the company's revenues by component and segment, as well as Adjusted EBITDA and depreciation and amortization for both the three and twelve months ended June 30, 2025, and 2024 Revenues by Component ($ Millions): | Component | Q4 2025 | Q4 2024 | FY 2025 | FY 2024 | | :---------------- | :------ | :------ | :------ | :------ | | Affiliate fee | 1,908 | 1,859 | 7,656 | 7,324 | | Advertising | 1,078 | 1,007 | 6,865 | 5,444 | | Other | 301 | 226 | 1,779 | 1,212 | | **Total revenues** | **3,287** | **3,092** | **16,300** | **13,980** | Segment Revenues ($ Millions): | Segment | Q4 2025 | Q4 2024 | FY 2025 | FY 2024 | | :------------------------ | :------ | :------ | :------ | :------ | | Cable Network Programming | 1,532 | 1,438 | 6,930 | 5,955 | | Television | 1,707 | 1,615 | 9,325 | 7,875 | | Corporate and Other | 63 | 53 | 244 | 209 | | Eliminations | (15) | (14) | (199) | (59) | | **Total revenues** | **3,287** | **3,092** | **16,300** | **13,980** | Adjusted EBITDA by Segment ($ Millions): | Segment | Q4 2025 | Q4 2024 | FY 2025 | FY 2024 | | :------------------------ | :------ | :------ | :------ | :------ | | Cable Network Programming | 747 | 703 | 3,030 | 2,693 | | Television | 308 | 148 | 945 | 506 | | Corporate and Other | (116) | (78) | (351) | (316) | | **Total Adjusted EBITDA** | **939** | **773** | **3,624** | **2,883** | [Segment Performance Review](index=4&type=section&id=Segment%20Performance%20Review) This section provides a detailed analysis of the financial performance for the Cable Network Programming and Television segments, highlighting revenue drivers and EBITDA changes [CABLE NETWORK PROGRAMMING](index=4&type=section&id=CABLE%20NETWORK%20PROGRAMMING) The Cable Network Programming segment demonstrated robust growth in both the fourth quarter and full fiscal year 2025, driven by increases in affiliate fees, advertising, and other revenues, despite subscriber declines [Q4 Fiscal 2025 Performance](index=4&type=section&id=Three%20Months%20Ended%20June%2030%2C%202025%20(Q4)) This subsection details the Cable Network Programming segment's financial performance for the three months ended June 30, 2025 Q4 FY2025 Cable Network Programming Revenues ($ Millions): | Revenue Type | Q4 2025 | Q4 2024 | Change ($M) | Change (%) | | :----------- | :------ | :------ | :---------- | :--------- | | Affiliate fee | 1,068 | 1,048 | 20 | 2% | | Advertising | 378 | 328 | 50 | 15% | | Other | 86 | 62 | 24 | 39% | | **Total revenues** | **1,532** | **1,438** | **94** | **7%** | - Affiliate fee growth was due to contractual price increases, partially offset by net subscriber declines[11](index=11&type=chunk) - Other revenues increased **39%**, led by higher Fox Nation subscribers[11](index=11&type=chunk) - Quarterly segment EBITDA increased by **$44 million or 6% to $747 million**, primarily due to revenue increases, partially offset by higher sports programming rights amortization and production costs[12](index=12&type=chunk) [Full Year Fiscal 2025 Performance](index=4&type=section&id=Twelve%20Months%20Ended%20June%2030%2C%202025%20(Full%20Year)) This subsection details the Cable Network Programming segment's financial performance for the twelve months ended June 30, 2025 Full Year FY2025 Cable Network Programming Revenues ($ Millions): | Revenue Type | FY 2025 | FY 2024 | Change ($M) | Change (%) | | :----------- | :------ | :------ | :---------- | :--------- | | Affiliate fee | 4,316 | 4,188 | 128 | 3% | | Advertising | 1,531 | 1,262 | 269 | 21% | | Other | 1,083 | 505 | 578 | 114% | | **Total revenues** | **6,930** | **5,955** | **975** | **16%** | - Other revenues increased **$578 million**, led by higher sports sublicensing revenues[13](index=13&type=chunk) - Full year segment EBITDA increased by **$337 million or 13% to $3.03 billion**, primarily due to revenue increases, partially offset by higher sports programming rights amortization and production costs[14](index=14&type=chunk) [TELEVISION](index=5&type=section&id=TELEVISION) The Television segment delivered strong financial performance in both Q4 and the full fiscal year 2025, with significant revenue growth driven by advertising, affiliate fees, and other content revenues [Q4 Fiscal 2025 Performance](index=5&type=section&id=Three%20Months%20Ended%20June%2030%2C%202025%20(Q4)) This subsection details the Television segment's financial performance for the three months ended June 30, 2025 Q4 FY2025 Television Revenues ($ Millions): | Revenue Type | Q4 2025 | Q4 2024 | Change ($M) | Change (%) | | :----------- | :------ | :------ | :---------- | :--------- | | Advertising | 700 | 679 | 21 | 3% | | Affiliate fee | 840 | 811 | 29 | 4% | | Other | 167 | 125 | 42 | 34% | | **Total revenues** | **1,707** | **1,615** | **92** | **6%** | - Advertising revenue growth was primarily due to continued digital growth led by the Tubi AVOD service, partially offset by the absence of prior year UEFA European Championship and CONMEBOL Copa América broadcasts[16](index=16&type=chunk) - Affiliate fee revenues increased **4%**, driven by higher average rates at owned and operated television stations and increases in fees from third-party FOX affiliates[16](index=16&type=chunk) - Quarterly segment EBITDA increased by **$160 million or 108% to $308 million**, due to revenue increases and lower expenses, primarily from reduced sports programming rights amortization and production costs[17](index=17&type=chunk) [Full Year Fiscal 2025 Performance](index=5&type=section&id=Twelve%20Months%20Ended%20June%2030%2C%202025%20(Full%20Year)) This subsection details the Television segment's financial performance for the twelve months ended June 30, 2025 Full Year FY2025 Television Revenues ($ Millions): | Revenue Type | FY 2025 | FY 2024 | Change ($M) | Change (%) | | :----------- | :------ | :------ | :---------- | :--------- | | Advertising | 5,334 | 4,182 | 1,152 | 28% | | Affiliate fee | 3,340 | 3,136 | 204 | 7% | | Other | 651 | 557 | 94 | 17% | | **Total revenues** | **9,325** | **7,875** | **1,450** | **18%** | - Advertising revenue growth was primarily due to the impact of Super Bowl LIX, higher political advertising revenues, and continued digital growth led by the Tubi AVOD service[18](index=18&type=chunk) - Full year segment EBITDA increased by **$439 million or 87% to $945 million**, due to revenue increases, partially offset by higher sports rights amortization and production costs, including Super Bowl LIX, and higher digital content costs[19](index=19&type=chunk) [Capital Allocation and Shareholder Returns](index=6&type=section&id=Capital%20Allocation%20and%20Shareholder%20Returns) This section outlines the company's strategies for returning value to shareholders through dividends and share repurchase programs [DIVIDEND](index=6&type=section&id=DIVIDEND) The Company's Board of Directors has authorized an increase in the semi-annual dividend, reflecting confidence in the business trajectory and commitment to shareholder returns - The semi-annual dividend was increased to **$0.28 per Class A and Class B share**[20](index=20&type=chunk) - The dividend is payable on September 24, 2025, to shareholders of record as of September 3, 2025[20](index=20&type=chunk) [SHARE REPURCHASE PROGRAM](index=6&type=section&id=SHARE%20REPURCHASE%20PROGRAM) The Board of Directors authorized an additional $5 billion for stock repurchases, increasing the total authorization to $12 billion, underscoring the company's commitment to returning value to shareholders - An additional **$5 billion** was authorized for stock repurchases, increasing the total authorization to **$12 billion**[21](index=21&type=chunk) - As of June 30, 2025, the Company had repurchased approximately **$5.6 billion of Class A common stock** and **$1.0 billion of Class B common stock**[21](index=21&type=chunk) - Approximately **$250 million of Class A common stock** was repurchased during the quarter[21](index=21&type=chunk) [Consolidated Financial Statements](index=7&type=section&id=Consolidated%20Financial%20Statements) This section presents the company's consolidated statements of operations, balance sheets, and cash flows for the reported periods, offering a comprehensive view of its financial position and performance [CONSOLIDATED STATEMENTS OF OPERATIONS](index=7&type=section&id=CONSOLIDATED%20STATEMENTS%20OF%20OPERATIONS) This statement presents the company's revenues, expenses, and net income for the three and twelve months ended June 30, 2025, and 2024, highlighting significant growth in net income year-over-year Consolidated Statements of Operations (Key Figures, $ Millions, except per share amounts): | Metric | Q4 2025 | Q4 2024 | FY 2025 | FY 2024 | | :--------------------------------------- | :------ | :------ | :------ | :------ | | Revenues | 3,287 | 3,092 | 16,300 | 13,980 | | Operating expenses | (1,759) | (1,784) | (10,518) | (9,089) | | Selling, general and administrative | (590) | (539) | (2,168) | (2,024) | | Income before income tax expense | 959 | 451 | 3,061 | 2,104 | | Net income | 719 | 320 | 2,293 | 1,554 | | Net income attributable to Fox Corp stockholders | 717 | 319 | 2,263 | 1,501 | | EPS attributable to Fox Corp stockholders | 1.57 | 0.68 | 4.91 | 3.13 | [CONSOLIDATED BALANCE SHEETS](index=8&type=section&id=CONSOLIDATED%20BALANCE%20SHEETS) The consolidated balance sheet as of June 30, 2025, shows an increase in total assets, primarily driven by higher cash and cash equivalents, and an increase in total equity, reflecting the company's strong financial position Consolidated Balance Sheets (Key Figures, $ Millions): | Metric | June 30, 2025 | June 30, 2024 | | :-------------------------------- | :------------ | :------------ | | Cash and cash equivalents | 5,351 | 4,319 | | Total current assets | 8,429 | 7,501 | | Total assets | 23,195 | 21,972 | | Total current liabilities | 2,897 | 2,952 | | Non-current borrowings | 6,602 | 6,598 | | Total Fox Corporation stockholders' equity | 11,962 | 10,714 | | Total liabilities and equity | 23,195 | 21,972 | [CONSOLIDATED STATEMENTS OF CASH FLOWS](index=10&type=section&id=CONSOLIDATED%20STATEMENTS%20OF%20CASH%20FLOWS) For the twelve months ended June 30, 2025, net cash provided by operating activities significantly increased, while net cash used in investing and financing activities also rose Consolidated Statements of Cash Flows (Key Figures, $ Millions): | Activity | FY 2025 | FY 2024 | | :----------------------------------- | :------ | :------ | | Net cash provided by operating activities | 3,324 | 1,840 | | Net cash used in investing activities | (537) | (452) | | Net cash used in financing activities | (1,755) | (1,341) | | Net increase in cash and cash equivalents | 1,032 | 47 | | Cash and cash equivalents, end of year | 5,351 | 4,319 | - Repurchase of shares amounted to **$1,000 million** in both FY2025 and FY2024[28](index=28&type=chunk) - Repayment of borrowings was **$600 million** in FY2025, down from **$1,250 million** in FY2024[28](index=28&type=chunk) [Non-GAAP Financial Measures](index=11&type=section&id=Non-GAAP%20Financial%20Measures) This section provides definitions and reconciliations for non-GAAP financial measures, including Adjusted Net Income, Adjusted EPS, and Adjusted EBITDA, used by management to assess performance [NOTE 1 – ADJUSTED NET INCOME AND ADJUSTED EPS](index=11&type=section&id=NOTE%201%20%E2%80%93%20ADJUSTED%20NET%20INCOME%20AND%20ADJUSTED%20EPS) This section defines Adjusted Net Income and Adjusted EPS as non-GAAP measures used by management to evaluate performance by excluding certain non-recurring or non-operational items, providing reconciliations for both quarterly and full-year periods - Adjusted Net Income and Adjusted EPS exclude net income effects of Restructuring, impairment and other corporate matters, adjustments to Equity earnings (losses) of affiliates, Non-operating other, net, Tax provisions and Noncontrolling interest adjustments[29](index=29&type=chunk) Q4 Adjusted Net Income and EPS Reconciliation ($ Millions, except per share data): | Metric | Q4 2025 Income | Q4 2025 EPS | Q4 2024 Income | Q4 2024 EPS | | :--------------------------------------- | :------------- | :---------- | :------------- | :---------- | | Net income attributable to Fox Corp stockholders | 717 | 1.57 | 319 | 0.68 | | As adjusted | 581 | 1.27 | 423 | 0.90 | Full Year Adjusted Net Income and EPS Reconciliation ($ Millions, except per share data): | Metric | FY 2025 Income | FY 2025 EPS | FY 2024 Income | FY 2024 EPS | | :--------------------------------------- | :------------- | :---------- | :------------- | :---------- | | Net income attributable to Fox Corp stockholders | 2,263 | 4.91 | 1,501 | 3.13 | | As adjusted | 2,202 | 4.78 | 1,645 | 3.43 | [NOTE 2 – ADJUSTED EBITDA](index=13&type=section&id=NOTE%202%20%E2%80%93%20ADJUSTED%20EBITDA) This section defines Adjusted EBITDA as a non-GAAP measure, calculated as Revenues less Operating expenses and Selling, general and administrative expenses, used to evaluate operating results separate from non-operational factors - Adjusted EBITDA is defined as Revenues less Operating expenses and Selling, general and administrative expenses, excluding items like Amortization of cable distribution investments, Depreciation and amortization, Restructuring, impairment and other corporate matters, Equity earnings (losses) of affiliates, Interest expense, net, Non-operating other, net and Income tax expense[33](index=33&type=chunk) - Management uses Adjusted EBITDA to analyze the operating performance of the Company's business and its enterprise value against historical data and competitors' data[34](index=34&type=chunk) Adjusted EBITDA Reconciliation to Net Income ($ Millions): | Metric | Q4 2025 | Q4 2024 | FY 2025 | FY 2024 | | :--------------------------------------- | :------ | :------ | :------ | :------ | | Net income | 719 | 320 | 2,293 | 1,554 | | Add: Amortization of cable distribution investments | 1 | 4 | 10 | 16 | | Add: Depreciation and amortization | 102 | 98 | 385 | 389 | | Add: Restructuring, impairment and other corporate matters | 99 | 43 | 350 | 67 | | Add: Equity losses of affiliates | 18 | 44 | 29 | 44 | | Add: Interest expense, net | 42 | 47 | 227 | 216 | | Add: Non-operating other, net | (282) | 86 | (438) | 47 | | Add: Income tax expense | 240 | 131 | 768 | 550 | | **Adjusted EBITDA** | **939** | **773** | **3,624** | **2,883** | [General Information](index=6&type=section&id=General%20Information) This section includes important disclaimers regarding forward-looking statements and provides contact information for investor and press inquiries [CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS](index=6&type=section&id=CAUTIONARY%20STATEMENT%20CONCERNING%20FORWARD-LOOKING%20STATEMENTS) This section advises readers that the press release contains forward-looking statements subject to various risks and uncertainties, and actual results may differ materially - The press release contains "forward-looking statements" subject to uncertainty and changes in circumstances[22](index=22&type=chunk) - Actual results may vary materially due to changes in economic, business, competitive, technological, strategic, and/or regulatory factors[22](index=22&type=chunk) - The Company undertakes no duty to update or release any revisions to any forward-looking statement, except as required by law[23](index=23&type=chunk) [Contacts](index=6&type=section&id=CONTACTS) This section provides information on how to access the press release online and lists contact details for investor relations and press inquiries - The press release can be accessed through Fox Corporation's corporate website at http://www.foxcorporation.com[24](index=24&type=chunk) - Contact details for Investor Relations (Gabrielle Brown, Charlie Costanzo) and Press Inquiries (Brian Nick, Lauren Townsend) are provided[25](index=25&type=chunk)

Core Insights - Fox Corporation (FOXA) is scheduled to report its fourth-quarter fiscal 2025 results on August 5, with earnings estimated at $1.01 per share, reflecting a 12.22% increase year-over-year, and revenues projected at $3.11 billion, indicating a 0.48% growth from the previous year [1][9]. Group 1: Recent Performance - The company has consistently exceeded the Zacks Consensus Estimate in the last four quarters, with an average surprise of 25.94% [2]. - In the third quarter, Fox reported revenues of $4.37 billion, a 27% increase year-over-year, primarily driven by Super Bowl LIX advertising and digital growth at Tubi [3][9]. Group 2: Strategic Developments - Positive developments include the launch of Fox One, a direct-to-consumer streaming service, and the introduction of the AI-driven OneFOX media platform, enhancing digital advertising capabilities [4]. - Tubi added eight million new users on Super Bowl day and achieved 35% year-over-year revenue growth in the third quarter [4]. Group 3: Challenges Ahead - The upcoming quarter may face challenges due to the absence of a Super Bowl broadcast, making year-over-year advertising comparisons difficult [6][9]. - In the third quarter, net income attributable to Fox stockholders decreased to $346 million from $666 million in the prior year, attributed to higher sports programming costs and content investments [6].

Core Insights - Fox has acquired a 33% stake in Penske Entertainment, which owns the Indianapolis Motor Speedway and IndyCar, marking a strategic investment aimed at fostering growth for IndyCar and extending Fox Sports' media rights deal [1][4] - The partnership is expected to enhance IndyCar's visibility and engagement through innovative racing events, a stronger digital strategy, and improved promotion for drivers [4][5] - The Indianapolis 500 broadcast on Fox achieved an average of 7.01 million viewers, a 41% increase from the previous year, indicating a significant rise in IndyCar's viewership [8] Investment and Partnership Details - The investment is characterized as a strategic partnership to drive new growth for IndyCar, including a multi-year extension of Fox Sports' media rights [1][4] - Fox Sports is in its inaugural season broadcasting IndyCar, with all races aired on Fox, making it the only series in the U.S. not broadcast on cable [6][8] Leadership and Future Vision - Eric Shanks, CEO of Fox Sports, expressed enthusiasm about joining the IndyCar ownership group, emphasizing the sport's potential for storytelling and fan engagement [2][5] - Roger Penske highlighted the long-standing trust and shared vision between Fox and Penske Entertainment, indicating a commitment to the sport's growth trajectory [5] Viewership Trends - IndyCar has seen a 31% year-over-year increase in viewership this season, reflecting a positive trend in audience engagement [8]

Market Overview - The market capitalization of major US stocks shows varied performance, with Oracle at 762.30 billion, Mastercard at 321.36 billion, and Visa at 770.15 billion, reflecting increases of +0.66%, +0.86%, and +0.68% respectively [3] - Exxon Mobil's market cap is 679.53 billion, with a slight decrease of -0.98%, while Johnson & Johnson and Netflix show minor changes of -0.08% and -0.05% respectively [3] - Companies like Wells Fargo and Cisco have market caps of 270.15 billion and 279.59 billion, with respective increases of +0.98% and -0.58% [3] Notable Stock Movements - T-Mobile US Inc experienced a significant increase of +6.20%, reaching a market cap of 272.19 billion [3] - General Electric and Coca-Cola saw market caps of 285.05 billion and 298.76 billion, with increases of +0.37% and +0.91% respectively [3] - Companies like Disney and Goldman Sachs have market caps of 229.06 billion and 221.80 billion, with slight changes of +0.01% and -0.60% [3] Sector Performance - The technology sector shows mixed results, with Intel at 991.05 billion, down -3.28%, while AMD increased by +2.46% to 254.92 billion [5] - The consumer goods sector is represented by companies like Procter & Gamble and Coca-Cola, with market caps of 371.68 billion and 298.76 billion, showing slight increases [3][4] - The energy sector, represented by Exxon Mobil and Chevron, shows varied performance, with Exxon down -0.98% and Chevron up +0.66% [3] Summary of Key Companies - Oracle's market cap stands at 762.30 billion, reflecting a positive trend [3] - Mastercard and Visa show strong performance with market caps of 321.36 billion and 770.15 billion, both increasing [3] - Companies like Pfizer and Comcast have market caps of 1579.81 billion and 1332.00 billion, with Pfizer showing minimal change and Comcast down -3.16% [4][5]

Market Capitalization Summary - Oracle has a market capitalization of 806.88 billion, while Visa stands at 655.99 billion [2] - Procter & Gamble has a market capitalization of 378.02 billion, and ExxonMobil is at 512.70 billion [2] - Mastercard's market capitalization is 470.87 billion, and Bank of America is at 375.11 billion [2] - UnitedHealth has a market capitalization of 308.53 billion, while ASML is at 310.77 billion [2] - Coca-Cola's market capitalization is 295.75 billion, and T-Mobile US Inc is at 273.60 billion [2] Stock Performance - Oracle's stock increased by 0.46 (+0.47%), while Visa's rose by 0.47 (+0.13%) [2] - Procter & Gamble's stock saw a slight increase of 2.68 (+0.48%), while ExxonMobil's stock increased by 1.92 (+1.20%) [2] - Mastercard's stock increased by 1.46 (+1.35%), and Bank of America's stock rose by 3.15 (+2.06%) [2] - UnitedHealth's stock decreased by 11.21 (-1.40%), while ASML's stock increased by 0.93 (+1.31%) [2] - Coca-Cola's stock increased by 14.05 (+4.50%), and T-Mobile US Inc's stock rose by 3.31 (+1.39%) [2] Additional Company Insights - McDonald's has a market capitalization of 212.78 billion, while AT&T is at 207.73 billion [3] - Uber's market capitalization is 192.79 billion, and Verizon's is at 184.08 billion [3] - Caterpillar's market capitalization is 183.87 billion, while Qualcomm is at 174.99 billion [3] - BlackRock has a market capitalization of 163.25 billion, and Citigroup is at 161.13 billion [3] - Boeing's market capitalization is 158.16 billion, while Pfizer is at 142.36 billion [3] Recent Market Movements - Intel's stock increased by 0.45 (+1.99%), while Dell Technologies rose by 0.82 (+0.16%) [4] - Rio Tinto's market capitalization is 746.07 billion, and Newmont is at 654.78 billion [4] - General Motors has a market capitalization of 494.87 billion, while Target is at 472.00 billion [4] - Ford's market capitalization is 451.14 billion, and Valero Energy is at 432.26 billion [4] - Vodafone's market capitalization is 241.45 billion, while Pinterest is at 270.30 billion [5]

Core Viewpoint - Fox (FOXA) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive outlook on its earnings estimates, which significantly influence stock prices [1][3]. Earnings Estimates and Stock Price Impact - The Zacks rating system emphasizes the importance of earnings estimate revisions, which are strongly correlated with near-term stock price movements [4][6]. - Institutional investors often adjust their valuations based on changes in earnings estimates, leading to significant stock price movements [4]. Recent Performance and Outlook - Fox is projected to earn $4.52 per share for the fiscal year ending June 2025, with no year-over-year change, but analysts have raised their estimates by 2.6% over the past three months [8]. - The upgrade reflects an improvement in Fox's underlying business, which is expected to drive the stock price higher as investors recognize this trend [5][10]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a strong historical performance, particularly for Zacks Rank 1 stocks, which have averaged a +25% annual return since 1988 [7]. - Fox's upgrade to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, suggesting potential for market-beating returns in the near term [9][10].

Core Insights - Fox Corp. has acquired Caliente TV, a Mexican sports broadcasting platform, to enhance its sports programming and attract more customers to its streaming services [1] - The acquisition is part of Fox's strategy to build a leading sports streaming business in Mexico, leveraging a strong sports rights portfolio and exclusive leagues [2] - Streaming has overtaken traditional broadcast and cable TV viewing, intensifying competition among services to acquire compelling programming [2] Company Strategy - Carlos Martinez has been appointed as executive vice president and managing director of Latin America, emphasizing the company's commitment to sports streaming [2] - Fox plans to launch its direct-to-consumer streaming service, Fox One, later this year, in addition to owning Tubi, a free ad-supported streaming service [3] - The acquisition will expand Fox's portfolio of original sports content, which already includes rights to major leagues such as the Big Ten Conference, United Football League, Premier League, and FA Cup [3]

Company Overview - Fox shares have lost about 0.9% in the past month, underperforming the S&P 500 [1] - The consensus estimate for Fox has shifted downward by 10.02% over the past month [2] Performance Metrics - Fox has a Growth Score of B and a Momentum Score of C, but an A grade on the value side, placing it in the top 20% for this investment strategy [3] - The aggregate VGM Score for Fox is A, indicating strong overall performance across multiple investment strategies [3] Outlook - Estimates for Fox have been trending downward, with a Zacks Rank of 2 (Buy), suggesting an expectation of above-average returns in the coming months [4] - Sirius XM, a competitor in the same industry, reported revenues of $2.07 billion for the last quarter, reflecting a year-over-year decline of 4.4% [5] - Sirius XM's earnings per share (EPS) for the last quarter was $0.59, down from $0.70 a year ago, and it is expected to post earnings of $0.80 per share for the current quarter [6]

Core Insights - The streaming content industry is characterized by a competitive landscape where companies are investing heavily in exclusive content to differentiate themselves and capture market share [4] Company Summaries Netflix Inc. (NFLX) - NFLX exceeded the Zacks Consensus Estimate for earnings in Q1 2025, maintaining strong engagement levels despite economic challenges [7] - The launch of the Ad Suite in the U.S. is expected to drive subscriber and ARPU growth, with plans for international expansion in Q2 [8] - NFLX's expected revenue and earnings growth rates for the current year are 14% and 27.7%, respectively, with a 3% improvement in earnings estimates over the last 60 days [11] Roku Inc. (ROKU) - ROKU's streaming hours increased by 82% year-over-year, and its OS is the top-selling TV platform in the U.S. [9][12] - The Roku Channel reached approximately 145 million U.S. households, maintaining a strong position in terms of reach and engagement [12] - ROKU's expected revenue and earnings growth rates for the current year are 10.5% and 80.9%, respectively, with a 10.5% improvement in earnings estimates over the last 30 days [13] Fox Corp. (FOXA) - FOXA reported strong fiscal Q3 results driven by increased affiliate fees and digital monetization at FOX News Media [14] - The company's political ad revenues are strengthening pricing across its news and sports brands, with popular primetime content attracting advertisers [15][16] - FOXA's expected revenue and earnings growth rates for the current year are 15.2% and 31.8%, respectively, with a 1.6% improvement in earnings estimates over the last 30 days [17]

Core Viewpoint - Investors are increasingly seeking growth stocks that demonstrate above-average growth potential, with Fox (FOXA) identified as a strong candidate due to its favorable growth metrics and Zacks Rank [2][10]. Group 1: Earnings Growth - Historical EPS growth for Fox is 9.9%, but projected EPS growth for this year is 31.7%, surpassing the industry average of 29.7% [5]. Group 2: Asset Utilization - Fox has an asset utilization ratio (sales-to-total-assets ratio) of 0.71, indicating it generates $0.71 in sales for every dollar in assets, compared to the industry average of 0.58 [6]. Group 3: Sales Growth - The company's sales are expected to grow by 15.2% this year, significantly higher than the industry average of 0% [7]. Group 4: Earnings Estimate Revisions - The current-year earnings estimates for Fox have been revised upward, with the Zacks Consensus Estimate increasing by 1.5% over the past month [8]. Group 5: Overall Positioning - Fox has achieved a Growth Score of B and a Zacks Rank of 2, positioning it well for potential outperformance in the growth stock category [10].