Political Ad Surge Propels Fox Corp. Past Wall Street Quarterly Estimates
Fox(FOX) Deadline·2024-11-04 21:17
Fox Corp. beat Wall Street analysts’ consensus forecast in its fiscal first quarter of 2025, with a swell of political ad spending along with strength at Fox Sports driving results. Total revenue climbed 11% from the year-earlier period, hitting $3.56 billion, while adjusted net income zoomed to $1.45 per share from $1.09 in the year-ago quarter. 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 ratin ...