Total revenues at Fox Corporation increased by 20 percent year-on-year in Q2 to reach $5.08 billion, with net income rising to $388 million.
Affiliate fee revenues in the period were up 6 percent to $1.9 billion, with a 9 percent boost in the television segment and 4 percent at the cable network division. Advertising revenues rose by 21 percent to $2.4 billion thanks to higher political advertising revenues and gains at Tubi.
Executive Chair and CEO Lachlan Murdoch said: “A compelling fall sports schedule combined with a record-breaking presidential election news cycle resulted in second quarter results that reflect the strength and breadth of FOX. Whether measured in terms of engagement, monetization or profitability, our focused strategy of live news and sports programming, coupled with our growing digital initiatives, continues to deliver. We remain committed to sustained long-term value creation for our shareholders through our thoughtful and disciplined strategy for growth.”
