Sam Boughedda
2 min read
Investing.com — Fox Corporation (NASDAQ: FOXA) reported first-quarter fiscal 2027 results that exceeded analyst expectations, sending shares up about 4% premarket on Monday.
Adjusted earnings per share of $2.54 beat the consensus estimate of $2.06 by $0.48. Revenue reached $4.57 billion, surpassing the $4.32 billion analyst estimate and marking a 22% increase from $3.74 billion in the prior-year quarter.
The revenue growth was driven by a 47% surge in advertising revenue, primarily due to the broadcast of the FIFA Men’s World Cup, higher political advertising revenue, and continued digital growth led by the Tubi AVOD service. Distribution revenue increased 9%, with 10% growth at the Cable Network Programming segment and 4% growth at the Television segment.
“FOX has had an outstanding start to fiscal 2027 with first-quarter records for revenue and Adjusted EBITDA underpinned by robust growth in both advertising and distribution revenue,” said Executive Chair and Chief Executive Officer Lachlan Murdoch. “We commenced the year with the stellar performance of the FIFA Men’s World Cup, the kickoff of the college football and NFL seasons, and an active election cycle at the national and local levels.”
Adjusted EBITDA reached $1.64 billion, up 54% from $1.07 billion in the prior year quarter. Net income attributable to Fox Corporation stockholders was $943 million, or $2.20 per share, compared to $599 million, or $1.32 per share, in the year-ago period.
The Television segment reported revenue of $2.71 billion, up 32% YoY, with advertising revenue jumping 60% to $1.71 billion. The Cable Network Programming segment generated revenue of $1.80 billion, an 8% increase from the prior year quarter.
Original Article
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