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Financial Overview of Fox Corporation for Q2 Fiscal 2025

On February 4, 2025, Fox Corporation revealed its financial outcomes for the second quarter ending December 31, 2024, delivering strong results that highlight its performance in a challenging yet lucrative environment. The company reported a total revenue of $5.08 billion, demonstrating a 20% uptick compared to the previous year.

Revenue Breakdown

Fox's revenue streams showcased impressive growth across various segments:

• - Affiliate fees increased by 6%, mostly driven by a 9% rise in the Television segment and a 4% growth in the Cable Network Programming segment.
• - Advertising revenues surged by 21%, primarily fueled by heightened political advertising activity, better ratings during the Major League Baseball (MLB) postseason, and increased pricing for the National Football League (NFL). Additionally, the growth of the Tubi AVOD service significantly contributed to this segment.
• - Other revenues, which saw a notable increase of 70%, were primarily boosted by higher sports sublicensing revenues.

This marked shift in the revenue landscape underlines the optimization of Fox's diversified portfolio, which includes broadcasting, cable, and digital platforms.

Net Income and EBITDA

Fox recorded a net income of $388 million, a remarkable rise from $115 million reported in the same quarter last year. Adjusted earnings attributable to Fox stockholders were $0.81 per share, up from $0.23 in the prior year. Furthermore, the company noted an Adjusted EBITDA of $781 million, reflecting a staggering 123% increase from the previous year, despite rising operational costs linked to sports programming and digital initiatives.

Lachlan Murdoch, Executive Chair and CEO, commented on the impressive quarterly performance, attributing it to a strategic emphasis on engaging live news and sports programming paired with significant investments in digital expansion. He stated, “Our results underscore the strength of the FOX brand in audience engagement and profitability.