Fox 2Q Profit Jumps on High Ad Spending for Sports, Politics

Dow Jones

02-04

By Dean Seal

Fox recorded a bigger profit in its fiscal second quarter as strong advertising revenue from the election season and sports pushed the top line above Wall Street estimates.

The broadcaster had net income of $373 million, or 81 cents a share, up from $109 million, or 23 cents a share, in the same quarter a year ago.

Stripping out one-time items, adjusted earnings were 96 cents a share. Analysts polled by FactSet had been expecting 69 cents a share.

Revenue rose 20% to $5.08 billion, above analyst projections for $4.87 billion, according to FactSet.

Fox's cable-network business, which includes Fox Sports 1, Fox Business and Fox News, posted a 31% jump in revenue from higher affiliate fees that offset a decline in subscribers. Advertising revenue was up 32% on higher news ratings, prices and digital ad sales, along with higher ratings for Major League Baseball's post-season.

The company's television segment logged 16% higher revenue thanks to the strong MLB ratings, higher prices for National Football League advertisements, political ads and growth for ad-supported video on demand at the Tubi subsidiary.

Shares rose 3.9% to $51.10 in premarket trading.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

February 04, 2025 08:18 ET (13:18 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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Analysts polled by FactSet had been expecting 69 cents a share. \n</p>\n<p>\n  Revenue rose 20% to $5.08 billion, above analyst projections for $4.87 billion, according to FactSet. \n</p>\n<p>\n  Fox's cable-network business, which includes Fox Sports 1, Fox Business and Fox News, posted a 31% jump in revenue from higher affiliate fees that offset a decline in subscribers. Advertising revenue was up 32% on higher news ratings, prices and digital ad sales, along with higher ratings for Major League Baseball's post-season. \n</p>\n<p>\n  The company's television segment logged 16% higher revenue thanks to the strong MLB ratings, higher prices for National Football League advertisements, political ads and growth for ad-supported video on demand at the <a href=\"https://laohu8.com/S/2BE.AU\">Tubi</a> subsidiary. \n</p>\n<p>\n  Shares rose 3.9% to $51.10 in premarket trading. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Dean Seal at dean.seal@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 04, 2025 08:18 ET (13:18 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2508459484","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2508459484","pubTimestamp":1738675080,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Fox recorded a bigger profit in its fiscal second quarter as strong advertising revenue from the election season and sports pushed the top line above Wall Street estimates.The broadcaster had net income of $373 million, or 81 cents a share, up from $109 million, or 23 cents a share, in the same quarter a year ago.Stripping out one-time items, adjusted earnings were 96 cents a share. 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Analysts polled by FactSet had been expecting 69 cents a share. \n\n\n  Revenue rose 20% to $5.08 billion, above analyst projections for $4.87 billion, according to FactSet. \n\n\n  Fox's cable-network business, which includes Fox Sports 1, Fox Business and Fox News, posted a 31% jump in revenue from higher affiliate fees that offset a decline in subscribers. Advertising revenue was up 32% on higher news ratings, prices and digital ad sales, along with higher ratings for Major League Baseball's post-season. \n\n\n  The company's television segment logged 16% higher revenue thanks to the strong MLB ratings, higher prices for National Football League advertisements, political ads and growth for ad-supported video on demand at the Tubi subsidiary. \n\n\n  Shares rose 3.9% to $51.10 in premarket trading. \n\n\n \n\n\n  Write to Dean Seal at dean.seal@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  February 04, 2025 08:18 ET (13:18 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1}}}