CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and can afford the risks. Trading CFDs is high risk and is not suitable for everyone. Refer to our PDS and Target Market Determination. AFSL 513393
Open platformOpen platform

Fox Q1 revenue rises 22%, beats estimates

By Reuters News


Overview

  • US media company's fiscal Q1 revenue rose 22% yr/yr, beating analyst expectations

  • Adjusted EPS beat analyst expectations

  • Company's revenue growth driven by World Cup, political ads, and Tubi digital gains


Outlook

  • Company did not provide specific financial guidance for the current quarter or full year in its press release


Result Drivers

  • WORLD CUP AND POLITICAL ADS - Co said advertising revenue grew 47%, primarily due to broadcast of FIFA Mens World Cup, higher political advertising, and digital growth led by Tubi

  • DISTRIBUTION GROWTH - Co said distribution revenue rose 9% due to higher contractual rates and increased average number of subscribers

  • HIGHER COSTS - Co said expenses rose due to increased sports programming rights and production costs, mainly from World Cup and digital content


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q1 Revenue

Beat

$4.57 bln

$4.31 bln (14 Analysts)

Q1 Adjusted EPS

Beat

$2.54

$2.09 (13 Analysts)

Q1 EPS

$2.20


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 9 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the broadcasting peer group is "buy"

  • Wall Street's median 12-month price target for Fox Corporation is $76.00, about 20.2% above its October 30 closing price of $63.24

  • The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 10 three months ago


Reuters Recommended Reads

  • Nov 2 - Sectors bracing for a pivot as US midterm elections loom

  • Oct 31 - Power bills and data centers cast rare spotlight on utilities in US midterms


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.