Fox. Corp's quarterly revenue rose 5 percent to $3.78 billion compared to a year-earlier $3.58 billion
Fox Corp., led by CEO and executive chairman Lachlan Murdoch, on Wednesday reported sharply higher second quarter earnings on valuation changes and higher advertising revenue.
Fox — which, after Rupert Murdoch agreed to sell most of 21st Century Fox to Walt Disney for $71 billion, became a standalone company mostly focused on news and sports — reported net income of $314 million for the latest quarter, or 48 cents per share, compared with $24 million in the year-ago period, or 1 cents a share.
The company also reported advertising revenue of $2.01 billion, up from a year-earlier $1.98 billion. MoffettNathanson analyst Michael Nathanson in his earnings preview noted positive momentum at the Fox network. "Among broadcast networks, Fox was the lone bright spot with 6 percent growth in the quarter," he wrote.
Barclays analyst Kannan Venkateshwar noted that "Fox are likely to have some tailwinds from NFL ratings, but cable networks are likely to remain weak." And he added: "While Fox News ratings have been strong, the impeachment-driven news cycle has likely resulted in more than usual pre-emption, which likely capped benefits."
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Fox Corp. Earnings Hit By Higher Sports Fees and WWE Launch CostsHigher sports rights fees and the cost of launching WWE’s “Smackdown” took a bite out of Fox Corp.’s earnings in the last lap of 2019. The company disclosed Wednesday that i…
Baca lebih lajut »
Global arms trade is a $3 trillion business and the US drives nearly 80% of itThe U.S. exported four times more arms around the globe than the next nine countries combined.
Baca lebih lajut »
The Hunger Games' Josh Hutcherson Sells Hollywood Hills Home for $3 Million — See Inside!The Hunger Games star's residence was previously owned by several other celebrities, including Ellen DeGeneres
Baca lebih lajut »
Fox News Asks Court to Toss Suit from Seth Rich's Parents, AgainAfter a New York federal appeals court revived the fight, the network is again arguing that Joel and Mary Rich don't have a valid claim against Fox News.
Baca lebih lajut »
How Julia Fox hustled her way into Uncut Gems“I was pretty much left to my own devices… I had to figure out how I was going to live, so for me, that’s where hustling stems from.”
Baca lebih lajut »
Fox Q2 Cable Revenue Hit By Breaking News PreemptionsFox posted earnings per share of 48 cents for its fiscal second quarter on revenue $3.78 billion, up 5% year on year with affiliate revenue up 7%. Advertising nosed up 1% despite the tough compari…
Baca lebih lajut »