Fox Corporation Reports Better than Expected Third-Quarter FY’25 Results

Fox Corporation (NASDAQ: FOXA, FOX) has released its financial results for the third quarter of fiscal year 2025, revealing notable growth in revenue and adjustments in net income. The quarter was marked by significant events, including the broadcast of Super Bowl LIX, which had a substantial impact on the company’s financial outcomes.

Fox Coporation Beats Expectations for Third-Quarter FY’25

In the third quarter of fiscal year 2025, Fox Corporation reported total revenues of $4.37 billion, marking a 27% increase from the previous year’s $3.45 billion. The impressive revenue growth was primarily fueled by a 65% surge in advertising revenues, largely attributed to the successful broadcast of Super Bowl LIX and the continued digital expansion of the Tubi AVOD service. Affiliate fee revenues also saw a 3% rise, driven by growth in both the Television and Cable Network Programming segments.

Despite the revenue growth, Fox’s net income for the quarter was $354 million, down from $704 million in the same quarter last year. The decline in net income was reflected in earnings per share (EPS) of $0.75. When adjusted for certain items, the adjusted EPS of $1.10 exceeded both the previous year’s adjusted EPS of $1.09 and market expectations.

Adjusted EBITDA for the quarter came in at $856 million, a slight decrease from the $891 million reported in the previous year. This decline was primarily due to increased expenses associated with higher sports programming rights amortization and production costs, notably from the Super Bowl broadcast and heightened digital content and marketing expenses.

Despite these challenges, the company’s strategic initiatives and strong revenue performance underline its commitment to maintaining a competitive edge in the industry.

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Fox Remains Confident in Ability to Navigate the Evolving Media Landscape

Looking ahead, Fox Corporation remains focused on leveraging its robust asset portfolio and strategic initiatives to drive long-term value for shareholders. The company’s leadership has expressed confidence in its ability to navigate the evolving media landscape, emphasizing the importance of its market-leading news coverage and sports programming in sustaining audience engagement and advertising revenue growth.

The company’s strategy involves capitalizing on its digital platforms, including the Tubi AVOD service, which continues to show promising growth. This digital expansion is seen as a critical component of Fox’s future revenue streams, offering opportunities for increased advertising revenues and audience reach.

Fox Corporation’s guidance also highlights its commitment to shareholder returns, as demonstrated by its ongoing share repurchase program. As of March 31, 2025, the company has repurchased approximately $5.35 billion of its Class A common stock, with a remaining authorization of $650 million.

Disclaimer: The author does not hold or have a position in any securities discussed in the article. All stock prices were quoted at the time of writing.