FOX (FOX) shares surged Tuesday after the media giant reported better-than-expected quarterly results and announced on its earnings call that it plans to launch a streaming service by the end of the year.

FOX posted fiscal 2025 second-quarter net income of $373 million, or $0.81 per share, on $5.08 billion in revenue. Analysts polled by Visible Alpha expected profit of $301.1 million, or $0.66 per share, on $4.83 billion in revenue.

"A compelling fall sports schedule combined with a record-breaking presidential election news cycle resulted in second quarter results that reflect the strength and breadth of FOX," CEO Lachlan Murdoch said. "Whether measured in terms of engagement, monetization or profitability, our focused strategy of live news and sports programming, coupled with our growing digital initiatives, continues to deliver."

FOX Sells Out Super Bowl LIX Ads

FOX will be televising Super Bowl LIX on its flagship channel Sunday, as well as streaming it on its ad-supported, free Tubi service.

"We are sold out with a record pricing for this Sunday's Super Bowl 59," Murdoch said on the earnings call, according to a transcript provided by AlphaSense. "We can't wait for the big game." 

Murdoch added the company is planning to launch a direct-to-consumer (DTC) streaming service by the end of 2025. "In terms of timing and launch, we're certainly targeting a launch by the end of this calendar year," Murdoch said.

Last month, FOX, The Walt Disney Co. (DIS), and Warner Bros. Discovery (WBD) called off their joint streaming venture Venu Sports before it could launch.

FOX shares advanced 4% Tuesday morning. They are up nearly 75% over the last 12 months.