Core Insights - Fox Corporation reported fourth-quarter fiscal 2025 adjusted earnings per share of $1.27, exceeding the Zacks Consensus Estimate by 25.7% and reflecting a year-over-year increase of 41.1% [1][8] - Total revenues rose 6.3% year over year to $3.28 billion, surpassing the consensus mark by 5.8% [1][8] - Adjusted EBITDA surged 21.5% year over year to $939 million, with an expanded margin of 360 basis points [5][8] Revenue Breakdown - Affiliate fees, accounting for 58% of total revenues, increased 2.6% year over year to $1.9 billion, driven by 4% growth in the Television segment and 2% growth in Cable Network Programming [1] - Advertising revenues, making up 32.8% of total revenues, grew 7.1% year over year to $1.07 billion, primarily due to digital growth from the Tubi AVOD service and stronger news ratings [2] - Other revenues surged 33.2% year over year to $301 million, representing 9.2% of total revenues [2] Segment Performance - Cable Network Programming revenues, which constitute 46.6% of total revenues, increased 6.5% year over year to $1.53 billion, with advertising revenues growing 15.2% [3] - Television revenues rose 5.7% year over year to $1.70 billion, with advertising revenues increasing 3.1% and affiliate fees growing 3.6% [4] Operating Expenses and Profitability - Operating expenses decreased 1.4% year over year to $1.75 billion, with operating expenses as a percentage of revenues contracting 420 basis points to 53.5% [5] - Selling, general & administrative (SG&A) expenses rose 9.5% year over year to $590 million, expanding as a percentage of revenues by 50 basis points to 17.9% [5] Balance Sheet Highlights - As of June 30, 2025, Fox had $5.35 billion in cash and cash equivalents, up from $4.81 billion as of March 31, 2025 [7] - Total borrowings included $599 million in current borrowings and $6.598 billion in non-current borrowings [7]
FOXA Q4 Earnings Surpass Estimates, Revenues Increase Y/Y