Fox Corporation Delivers Q3 Profit


Fox Corporation swung to a Q3 profit of $704 million on revenues that were down from $4.08 billion a year ago to $3.45 billion.

“FOX’s fiscal third-quarter results once again demonstrate how our unique strategy continues to distinguish FOX from our peers,” said Lachlan Murdoch, executive chair and CEO. “The strength and leadership of our core brands, coupled with our focus on live content and must-have event programming, is clearly valued by our audiences, advertisers and distribution partners. The consistent financial delivery from this strategy supports our investments in innovation which are driving momentum in our digital portfolio, led by Tubi. Our balanced capital allocation approach, fortified by our strong balance sheet, underpins our ability to drive long-term value creation for our shareholders.”

Affiliate revenues rose by 4 percent to $1.9 billion, while ad revenues dropped to $1.2 billion from last year’s Super Bowl-lifted $1.9 billion. By segment, cable network revenues slipped to $1.5 billion, while television revenues fell to $1.9 billion.