Fox Corp. beat Wall Street expectations in its second fiscal quarter, with revenue of nearly $4.1 billion improving 8% from the year-earlier period.On an adjusted basis, earnings per share rose to 16 cents from 10 cents a year ago.The consensus forecast from analysts called for revenue of $4 billion and a loss of 3 cents a share.Advertising revenue rose 14% in the quarter, helped by a record haul of political advertising by Fox stations.
The effects of Covid-19 on the college football season hurt results in the quarter, though, with “other” revenues dipping 14% due to games canceled by virus outbreaks.The company’s cable networks saw a 31% rise in ad revenue as political spending reached its peak, but affiliate and other revenue declined,
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