As a long-time follower and admirer of Fox Corp., I must say that this latest financial performance is nothing short of impressive! The surge in ad revenue and profits, particularly driven by strong political advertising, is a testament to their strategic acumen and ability to adapt to the ever-evolving media landscape.
A surge in strong political advertising significantly boosted Fox Corporation’s quarterly earnings, as ad revenues skyrocketed and profits nearly tripled compared to the same period last year.
Fox generated revenues amounting to approximately $3.56 billion this year, which represents an 11% increase compared to the previous year. This growth encompasses advertising earnings surpassing $1.3 billion, also growing by 11%. Concurrently, their net income soared to $832 million – a substantial rise from last year’s profits of $415 million.
2025’s fiscal year is off to a robust beginning across all our ventures, marked by significant audience expansion at Fox News, unprecedented political ad spending throughout the organization, rapid income growth at Tubi, and an enticing kickoff to our fall sports season. As Lachlan Murdoch, our CEO, stated, these elements have collectively contributed to exceptionally robust financial outcomes in the first quarter of the fiscal year. This is a testament to our successful strategy and unwavering focus, which benefits our viewers, advertisers, and shareholders alike.
More to come.
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2024-11-04 16:24