Fox Corporation (NASDAQ: FOX) stock rallied over 6.7% in pre-market trading on Tuesday, following impressive fiscal second-quarter 2025 results that beat Wall Street estimates on both the top and bottom lines. The media company's strong performance was driven by higher advertising revenues, particularly from political ads and sports programming.
For the quarter ended December 31, 2024, Fox reported:
Revenues: $5.08 billion vs $4.87 billion expected (up 19.9% year-over-year)
Adjusted EPS: $0.96 vs $0.67 expected (up 182.4% year-over-year)
Fox's advertising revenues surged 21% year-over-year to $2.42 billion, fueled by higher political advertising revenues, strong Major League Baseball postseason ratings, higher NFL pricing, and continued growth in digital advertising led by its Tubi ad-supported streaming service.
The company's Cable Network Programming segment saw a 31% jump in quarterly revenues driven by higher sports sublicensing revenues and increased advertising sales from news ratings and digital platforms. Meanwhile, the Television segment posted a 16% revenue increase, supported by the same factors boosting advertising sales.
Fox's adjusted EBITDA soared 123% to $781 million, significantly exceeding analysts' expectations, reflecting the robust top-line growth partially offset by higher expenses related to sports programming rights and digital investments.