Political Ad Surge Propels Fox Corp. Past Wall Street Quarterly Estimates
deadline.comFox Corp. beat Wall Street analysts’ consensus forecast in its fiscal first quarter of 2025, with results driven by a swell of political ad spending along and strength in live sports.
Total revenue in the quarter ended September 30 climbed 11% from the year-earlier period, hitting $3.56 billion. Adjusted net income zoomed to $1.45 per share, up from $1.09 in the year-ago quarter.
Fox shares gained 5% in pre-market trading after the quarterly report. Advertising revenue increased 11%, with the company crediting a surge in political ads at its local TV stations, along with continued growth at Tubi, higher ratings and higher direct response pricing at Fox News Media.
Another plus was Fox Sports’ coverage of two major soccer tournaments: the UEFA European Championship and CONMEBOL Copa América.
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