Fox Corp. Advertising Growth Drives Better-Than-Expected Quarterly Results

Core Insights - Fox Corp. reported total revenue of $3.29 billion and earnings per share of $1.57 for the fiscal fourth quarter, exceeding Wall Street expectations of $3.11 billion and $1.01 EPS [1] - The company experienced a 7% increase in total advertising revenue, reaching $1.08 billion, attributed to the success of the free streaming service Tubi, improved ratings at Fox News, and better pricing strategies [2] - For the full fiscal year, Fox Corp. achieved total revenue of $16.3 billion, marking a 17% increase from the previous year, driven by events such as the 2024 election and Super Bowl LIX [5] Revenue Breakdown - The Cable Network Programming division led overall performance with a 7% revenue increase to $1.53 billion, where advertising revenue rose by 15% and affiliate fee revenue increased by 2% despite net subscriber declines [3] - The Television division's revenue grew by 6% to $1.71 billion, primarily due to contributions from Tubi, with upcoming highlights including college football, NFL telecasts, and Major League Baseball playoffs [4]