Fox Corporation (FOX) Surpasses Q3 Earnings and Revenue Estimates

Core Viewpoint - Fox Corporation reported quarterly earnings of $1.10 per share, exceeding the Zacks Consensus Estimate of $0.96 per share, and showing a slight increase from $1.09 per share a year ago, indicating a 14.58% earnings surprise [1] - The company also posted revenues of $4.37 billion for the quarter, surpassing the Zacks Consensus Estimate by 5.22%, and up from $3.45 billion year-over-year [2] Financial Performance - Over the last four quarters, Fox has consistently surpassed consensus EPS estimates, achieving this four times [2] - The company has topped consensus revenue estimates two times in the same period [2] - The current consensus EPS estimate for the upcoming quarter is $1.30, with expected revenues of $3.12 billion, and for the current fiscal year, the estimate is $4.53 on revenues of $15.92 billion [7] Market Position - Fox shares have increased by approximately 2.1% since the beginning of the year, contrasting with a decline of 3.8% in the S&P 500 [3] - The Zacks Industry Rank places Broadcast Radio and Television in the top 30% of over 250 Zacks industries, suggesting a favorable outlook for the sector [8] Future Outlook - The sustainability of Fox's stock price movement will largely depend on management's commentary during the earnings call and the trends in earnings estimate revisions [3][4] - The current estimate revisions trend for Fox is favorable, resulting in a Zacks Rank 1 (Strong Buy), indicating expectations for the stock to outperform the market in the near future [6]