Strong advertising deliveries swung Fox Corp. back to profitability in the company’s last quarter (its fiscal Q3), after it had reported a loss in fiscal Q2. Fox reported revenues of $3.45 billion, including advertising revenues of $1.3 billion—and reported net income of $290 million. (THR)
The company said its affiliate revenue rose 5 percent overall, up 8 percent in its television division and 3 percent in cable network programming. Advertising revenues increased 9 percent, which the company said was due to stronger pricing and higher ratings at Fox News Media and continued growth at streaming service Tubi. (Deadline)
Revenue at the company’s broadcast operations rose 7 percent, or $125 million, to $1.82 billion during the period—owing to advertising growth at Tubi and an extra week of the NFL regular season. (Variety)