Fox Streamer Tubi Turns Profit Earlier Than Expected, Lachlan Murdoch Reveals On First Results Call Since Family Settlement Drama

Core Insights - Fox Corp. announced that its AVoD platform Tubi achieved profitability for the first time in the past quarter, with revenue growth of 27% and an 18% increase in viewing time [1] - CEO Lachlan Murdoch expressed optimism about Tubi's future contributions to EBITDA, projecting margins to be in the 20% to 25% range [1] - Tubi is expanding internationally, recently launching in the UK and increasing its content library, which is approaching 10,000 titles [1] Financial Performance - Fox Corp. reported adjusted earnings per share of $1.51 and total revenue of $3.7 billion for its fiscal first quarter, surpassing Wall Street expectations [4] - The advertising revenue in the Television unit rose by 6% to $1.07 billion, while the Cable Network Programming division saw a 7% increase to $345 million [4] Strategic Developments - Tubi's profitability may lead to a moderation in overall investment in the digital operation for the year [2] - The launch of the D2C streamer Fox One has exceeded expectations, particularly due to weekend sports viewing [2][3] - The recent resolution of family dynamics within the Murdoch family is viewed positively for investors, providing clarity on the company's strategic direction [6][7]