Fox Surges Past Wall Street Expectations In September Quarter Despite Modest Ad Revenue Gains

Core Insights - Fox Corp. exceeded Wall Street analysts' expectations in its fiscal first quarter, reporting adjusted earnings per share of $1.51 and total revenue of $3.7 billion, compared to analysts' consensus of $1.06 EPS and $3.58 billion in revenue [1] Financial Performance - The overall quarter performance was solid despite sluggish growth in the advertising business, with ad revenue in the Television unit rising 6% to $1.07 billion and in the Cable Network Programming division increasing 7% to $345 million [2] Strategic Developments - The company launched Fox One, entering the subscription streaming market, which offers access to various linear networks along with sports, news, entertainment, and weather content [3] Audience Engagement - Fox averaged 5.9 million viewers for its Big Noon Saturday telecasts of Big Ten games, with the NFL matchup between the Philadelphia Eagles and Kansas City Chiefs attracting 33.8 million viewers, making it one of the most-watched events of the week [4] Corporate Governance - A significant development during the quarter was the resolution of a family drama, with Rupert Murdoch designating his son, Lachlan, as the principal heir to his media empire, which included substantial payouts to other children [5]