Oct. 30 at 12:28 PM
$FOXA
🚨 🚨 🚨
Adjusted EPS:
$1.51 per share, beating analyst estimates of
$1.06 to
$1.11.
Revenue:
$3.74 billion, surpassing forecasts of
$3.57 billion.
Net income: The reported net income was
$599 million, or
$1.32 per share, which was lower than the
$827 million reported in the same quarter last year. The decline was attributed to higher operating expenses.
Key business drivers:
Advertising revenue: Increased 6% year-over-year, driven by strong demand across news, sports (including the NFL), and the Tubi streaming service.
Revenue growth: The company saw overall revenue increase by 5% compared to the prior year.
Segment performance:
Cable Network Programming: Revenue increased 4.1% to
$1.66 billion.
Television Segment: Revenue increased 5% to
$2.05 billion.
Corporate actions:
Accelerated Share Repurchase (ASR): Fox announced a
$1.5 billion ASR program.
