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Fox Corp. outpaced Wall Streets expectations on Tuesday after reporting higher-than-expected profits that were boosted by an industry-wide uptick in the advertising market.

The New York-based media giant earnings of $375 million, or 74 cents per share, according to its fourth-quarter earnings release. That number was up from $306 million in the same period one year ago.

On an adjusted basis excluding one-time expenses, the company reported earnings of 88 cents per share, higher than the 72 cents projected by Wall Street analysts.

Foxs quarterly revenue was $3.03 billion, a figure that matched last years results for the quarter and was in line with estimates.

“We enter fiscal ’24 from a position of strength despite headwinds facing our industry and the lingering effect of some macroeconomic uncertainty,” Fox Corp. CEO Lachlan Murdoch said during an earnings call.

Fox shares were up nearly 4% in mid-day trading.

The company’s quarterly ad revenue came in at $1.01 billion, down slightly compared to last year but still better than expected, according to estimates from research firm Visible Alpha.

The company said the 4% decrease in ad revenues occurred as continued growth at Tubi was more than offset by comparably lower political advertising revenues at the FOX Television Stations and the impact of elevated supply in the direct response marketplace at FOX News Media.

Underlying ad trends have shown signs of improvement over the last quarter, Murdoch added. We are seeing an uptick in scatter driven largely by sports and national news is solid.

Murdoch also expressed confidence in Fox News revamped primetime lineup. The shakeup occurred after the dismissal of former host Tucker Carlson earlier this year.

We are pleased with the initial results, and are confident that our deep bench of talent will continue to set the standard for all new services as we move towards the 2024 presidential election, Murdoch said.

In April, Fox reached a $787.5 million settlement with Dominion Voting Systems. The settlement did not impact its fourth-quarter results.

Through the end of the quarter, Fox had roughly $4.3 billion in cash and roughly $7.2 billion in debt.

Fox Corp. shares a common owner with News Corp, which owns The Post.

With Post wires

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Environment

The legendary Nissan GT-R will reemerge, but Godzilla may look a little different

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The legendary Nissan GT-R will reemerge, but Godzilla may look a little different

Nissan has officially confirmed the icon will be making a comeback. Although Nissan is no longer building GT-R models, CEO Ivan Espinosa said Godzilla will “evolve and reemerge” in the future. Here’s what we know so far.

Nissan confirms the GT-R will evolve and reemerge

It seems like we’ve been talking about the next-gen Nissan GT-R for years now. After the last model rolled off the production line at the automaker’s Tochigi plant in Japan on Tuesday, Nissan’s CEO made it clear that the GT-R will be making a comeback.

After bidding farewell to the R35, Espinosa gave the many GT-R fans worldwide hope, saying, “I want to tell you this isn’t a goodbye to the GT-R forever.”

He added that it’s Nissan’s “goal for the GT-R nameplate to one day make a return.” Although this is the end of the line for the R35, the company remains committed to the GT-R nameplate and wants to “reimagine it for a new generation.”

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According to Espinosa, Nissan doesn’t have any finalized plans yet, but he promised that “the GT-R will evolve and reemerge in the future.”

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Nissan’s new N7 electric sedan alongside the GT-R (Source: Dongfeng Nissan)

Nissan says the next Godzilla will ensure the GT-R’s legacy lives on, but will pack even more performance. The big question is, what type of powertrain will it arrive with? Will it be electric? A hybrid? Or, will it still be gas-powered?

At the New York Auto Show in April, Ponz Pandikuthira, Senior Vice President and Chief Planning Officer for Nissan North America, told The Drive that the next GT-R will be a hybrid, rather than an all-electric.

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Nissan’s new N7 electric sedan alongside the GT-R (Source: Dongfeng Nissan)

However, Nissan previewed an electric GT-R a few years ago with the Hyper Force EV concept. The electric sports car concept was promoted as a “game-changing hyper EV” with over 1,300 horsepower (1,000 kW).

All that power is expected to come from solid-state batteries. Just last week, Nissan secured a partnership with LiCAP Technologies to produce all-solid-state EV batteries on a mass scale, one of the biggest hurdles to getting the new technology to market.

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Nissan Hyper Force EV concept (Source: Nissan)

Since Nissan aims to launch its first EV powered by solid-state batteries in 2028, we could see the GT-R reemerge as a plug-in hybrid until the technology is ready.

Either way, it will likely be a few years before we see an electrified Godzilla. If it evolves into an EV or hybrid, it remains up in the air for now.

While Nissan says an all-electric GT-R won’t deliver the performance needed to live up to the nameplate, others are proving otherwise. BYD’s first electric supercar, the Yangwang U9, set a new EV speed record this week after hitting nearly 300 mph.

How do you feel about it? Should the GT-R go all-electric? Or will Nissan settle for a hybrid? Drop us a comment below and let us know which one you’d buy.

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Sports

Buckeyes’ orders for Sayin: ‘Just win’ vs. Horns

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Buckeyes' orders for Sayin: 'Just win' vs. Horns

COLUMBUS, Ohio — Ohio State coach Ryan Day has one message for freshman quarterback Julian Sayin, who will be making his first career start for the No. 3 Buckeyes against top-ranked Texas on Saturday.

“Just win,” Day said Tuesday. “Find a way to win.”

All eyes will be on Sayin and new Texas starting quarterback Arch Manning in the showdown at Ohio Stadium. It’s a rematch of last year’s College Football Playoff semifinal when both players watched from the sideline as Will Howard and Ohio State eliminated Quinn Ewers and Texas on the way to winning the national championship.

Both Sayin and Manning were five-star recruits coming out of high school. Manning started two games in Austin last season when Ewers suffered an injury; Sayin attempted only 12 passes last year in mop-up duty.

Day said the Buckeyes aren’t putting “crazy expectations” on Sayin, who beat out Lincoln Kienholz for the starting nod in the preseason.

“Take care of the ball. … If you need to throw it away, throw it away,” Day said of his discussions with Sayin heading into Saturday. “Don’t worry about anything else other than winning the game. That’s the most important thing — that’s the job of the quarterback.”

Ohio State will debut eight new starters after losing the bulk of last season’s championship defense to the NFL. Day said facing Manning will pose a “tremendous” challenge for the revamped defense.

“Athletic; a big, strong arm; smart; quick release; accurate — all of the above,” Day said of Manning. “I mean, he checks every box.”

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Colorado names transfer Salter QB1 for opener

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Colorado names transfer Salter QB1 for opener

Colorado coach Deion Sanders named Kaidon Salter the Buffaloes’ starting quarterback on Tuesday, ahead of the team’s opener Friday against Georgia Tech.

“The kid has a ton of experience, dual threat, can throw the heck out of the ball as well,” said Sanders. “He’s the guy. He’s the guy at this point.”

Salter, who transferred to Colorado after three years as a starter at Liberty, was the presumed starter but had been competing with five-star true freshman Julian Lewis.

“He’s done it before,” said Sanders. “This is not his first time running out the tunnel and getting the start. … I like what he did in the spring, and he’s growing and growing and growing.”

Sanders credited offensive coordinator Pat Shurmur and volunteer assistant coach Byron Leftwich for their work with Salter.

“I defer to those two coaches to allow me to understand what I see as valid,” said Sanders, who added that he is hopeful Lewis will also get game reps.

Salter appeared in two games for Liberty in 2021, before starting most of the team’s games of over the next three years. During that span, he threw for 5,889 yards with 56 touchdowns and 17 interceptions. He also ran for 2,006 yards.

He will replace Shedeur Sanders, who started the past two years for Colorado, before being drafted in the fifth round by the Cleveland Browns.

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