Financial Performance - Fox Corporation reported total quarterly revenues of $4.37 billion, an increase of $924 million or 27% from the prior year quarter[3]. - Advertising revenues increased by 65% to $2.04 billion, primarily due to Super Bowl LIX and digital growth from the Tubi AVOD service[3]. - Quarterly net income was $354 million, down from $704 million in the prior year quarter, with adjusted net income of $507 million[4]. - Adjusted EBITDA for the quarter was $856 million, a decrease of $35 million or 4% from the prior year quarter[4]. - Cable Network Programming segment revenues increased by 11% to $1.64 billion, with advertising revenues up 26%[9]. - Television segment revenues rose by 40% to $2.70 billion, driven by a 77% increase in advertising revenues[12]. - Adjusted net income for the three months ended March 31, 2025, was $507 million, compared to $520 million for the same period in 2024, reflecting a decrease of 2.5%[28]. Shareholder Value - The company repurchased approximately $250 million of its Class A common stock during the quarter, with a total repurchase of $5.35 billion to date[15]. - The company repurchased shares worth $750 million during the nine months ended March 31, 2025[24]. - Fox Corporation maintains a robust balance sheet and is positioned to drive long-term value for shareholders[4]. Assets and Liabilities - Total assets increased to $23,367 million as of March 31, 2025, up from $21,972 million on June 30, 2024, representing a growth of 6.34%[22]. - Total current liabilities rose to $3,567 million as of March 31, 2025, compared to $2,952 million on June 30, 2024, marking an increase of 20.8%[22]. - Total equity increased to $11,638 million as of March 31, 2025, up from $10,814 million on June 30, 2024, indicating a growth of 7.6%[22]. - The company’s borrowings remained stable at $6,601 million for non-current liabilities, with a slight increase from $6,598 million on June 30, 2024[22]. Cash Flow - Cash and cash equivalents at the end of the period were $4,815 million, an increase of 11.5% from $4,319 million at the beginning of the year[24]. - The company reported a net cash provided by operating activities of $1,811 million for the nine months ended March 31, 2025, compared to $941 million for the same period in 2024, an increase of 92.7%[24]. Expenses - The company experienced higher expenses due to increased sports programming rights amortization and production costs related to Super Bowl LIX[4].
Fox(FOXA) - 2025 Q3 - Quarterly Results