Fox beats profit projections in fourth quarter after boost in ad revenue

Published

2 years ago

August 16, 2023

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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

Sports

Jays’ Springer back; Betts at cleanup in Game 6

Published

1 hour ago

October 31, 2025

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Jays' Springer back; Betts at cleanup in Game 6

ESPN News Services

Oct 31, 2025, 04:03 PM ET

Designated hitter George Springer has returned to the Blue Jays lineup as Toronto seeks to clinch the World Series title, while the Los Angeles Dodgers are tinkering with their order as they seek to extend the series to Game 7.

Springer will be the Blue Jays’ leadoff hitter for Friday’s Game 6 after missing the past two games when he strained muscles on his right side while taking a swing in Game 3.

“Once you get confirmation that there’s nothing terribly wrong, it’s kind of ‘What can you tolerate?'” Blue Jays manager John Schneider said. “He’s somehow, at age 36, made significant progress in the last 48 hours.”

Los Angeles, meanwhile, will shift Mookie Betts to cleanup and play Miguel Rojas at second base. The Dodgers are searching for an offensive spark after being held to three runs and 10 hits over two straight losses to the Blue Jays in Los Angeles.

Betts at cleanup is the lowest he has hit in a lineup since September 2017 with the Boston Red Sox.

Typically hitting No. 2 for the Dodgers this season, Betts is 3-for-23 in the World Series, going 0-for-4 with two strikeouts in Game 5 when he hit third for the first time in four years.

Schneider said the Blue Jays don’t believe Springer can aggravate or worsen his pain by playing.

“That’s kind of how we’re approaching it,” Schneider said. “There’s always some risk too. There’s a difference between being injured and hurting. He’s not injured right now. But yeah, there’s always a risk.”

Springer has hit the second-most leadoff homers in major league history with 63, trailing only Hall of Famer Rickey Henderson‘s 81.

He hit a three-run homer in Game 7 of the American League Championship Series against the Seattle Mariners on Oct. 20, playing a major role in sending the Blue Jays to their first World Series title since 1993. That came three days after he was struck on the right kneecap by a 95.6 mph pitch from Seattle’s Bryan Woo during the ALCS, forcing him out of Game 5. Springer returned in Game 6.

With Springer back in the lineup, Bo Bichette will play second base for the third time in the World Series after not playing the position at the major league level before.

The Blue Jays lead the World Series 3-2 and are one win from their first title since 1993. A Dodgers victory would force the first World Series Game 7 since 2019.

The Associated Press contributed to this report.

Science

SpaceX Revises Artemis III Moon Mission with Simplified Starship Design

Published

1 hour ago

October 31, 2025

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SpaceX is developing a simplified Starship mission for NASA’s Artemis III Moon landing, targeting a quicker and safer return of astronauts. As NASA reopens the lander contract amid delays, SpaceX says its refined Starship design could take on more mission roles, advancing lunar exploration toward the first crewed landing this decade.

Science

Rare ‘Second-Generation’ Black Holes Detected, Proving Einstein Right Again

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1 hour ago

October 31, 2025

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Scientists have detected two unusual black hole mergers showing signs of “second-generation” origins — meaning each large black hole likely formed from an earlier merger. The gravitational-wave signals also matched Einstein’s predictions on spinning black holes, offering fresh proof of general relativity and new insights into how black holes grow in crowded st…