Fox Corp. matched Wall Street expectations for its fiscal second quarter, powered by NFL football in the U.S. and football at the World Cup.
The company reported total revenue in the quarter ending December 31 of $4.61 billion, up 4% from the year-earlier period, and earnings of 48 cents a share.
Affiliate fee revenues rose 1% thanks to 6% growth at the Television unit. Ad revenue climbed 4%, no mean feat in a tough economic climate, mostly due to the World Cup in Qatar and strong NFL results at Fox Sports.
Other boosts came from political spending at the company’s local stations and growth for streaming service Tubi. The category of “Other revenue” increased 13%, which the company said was primarily due to the impact of the consolidation of entertainment production companies at the Television segment and higher Fox Nation subscription revenue.
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