Fox Corp. Hits Quarterly Target Despite Advertising Dip
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deadline.comFox Corp. revenue stayed flat in the quarter ending June 30 compared with the year-earlier period, but it matched Wall Street analysts’ consensus estimate as earnings beat expectations.
Earnings in the fiscal fourth quarter came in at 74 cents a share in the quarter ending June 30, topping analysts’ target of 72 cents and rising from 55 cents in the year-ago period.
The revenue figure stayed flat with the 2022 quarter. Affiliate fee revenue climbed 3% from a year ago, paced by a 9% upswing in the Television division.
Advertising revenue fell 4%, with gains for streaming service Tubi being offset by the absence of political spending at the company’s local stations compared with the midterm cycle of 2022.
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