Fox Corporation Surpasses First Quarter Expectations, Shares Rise on Strong Results

NEW YORK - Fox Corporation (NASDAQ: FOXA) reported first-quarter earnings and revenue figures that exceeded expectations, leading to a 3.87% increase in the company's stock price. The media company announced adjusted earnings per share of $1.45, surpassing analyst estimates of $1.13. Quarterly revenue reached $3.56 billion, above expectations of $3.38 billion, representing an 11% increase year-over-year. Fox's strong performance was supported by growth across multiple segments. Affiliate fee revenue rose by 6%; the Television segment increased by 10%, and Cable Network Programming grew by 3%. Advertising revenue jumped by 11%, bolstered by higher political ad spending at FOX Television Stations and sustained growth on the streaming platform Tubi. Chairman and CEO Lachlan Murdoch stated, "We had a strong start to our fiscal year 2025 portfolio; we saw significant viewership growth at FOX News, record political ad revenues across the company, accelerating revenue growth at Tubi, and an impressive start to our fall Sports schedule." The company reported adjusted EBITDA of $1.05 billion for the quarter, a 21% increase year-over-year. Fox attributed this growth primarily to higher revenues but was partially offset by rising programming costs in FOX Sports and Tubi. During the quarter, Fox repurchased approximately $250 million of Class A common stock. As of September 30, the company had $1.15 billion remaining under its share repurchase authorization.