FOX REPORTS SECOND QUARTER FISCAL 2025 REVENUES OF $5.08 BILLION, NET INCOME OF $388 MILLION, AND ADJUSTED EBITDA OF $781 MILLION

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[{"type":"text","content":"NEW YORK, Feb. 4, 2025 /PRNewswire/ -- Fox Corporation (Nasdaq: FOXA, FOX; \"FOX\" or the \"Company\") today reported financial results for the three months ended December 31, 2024.\nThe Company reported total quarterly revenues of $5.08 billion, an increase of $844 million or 20% from the amount reported in the prior year quarter. Affiliate fee revenues increased 6%, driven by 9% growth at the Television segment and 4% growth at the Cable Network Programming segment. Advertising revenues increased 21%, primarily due to higher political advertising revenues, the impact of higher MLB postseason ratings and NFL pricing, continued digital growth led by the Tubi AVOD service, and stronger news ratings and pricing. Other revenues increased 70%, primarily due to higher sports sublicensing revenues.\nThe Company reported quarterly net income of $388 million as compared to the $115 million reported in the prior year quarter. Net income attributable to Fox Corporation stockholders was $373 million ($0.81 per share) as compared to the $109 million ($0.23 per share) reported in the prior year quarter. Adjusted net income attributable to Fox Corporation stockholders1 was $442 million ($0.96 per share) as compared to the $165 million ($0.34 per share) reported in the prior year quarter.\nQuarterly Adjusted EBITDA2 was $781 million, an increase of $431 million or 123% from the amount reported in the prior year quarter, primarily due to the revenue increase noted above, partially offset by higher expenses. The increase in expenses was primarily driven by higher sports programming rights amortization and production costs, and higher digital costs.\nCommenting on the results, Executive Chair and Chief Executive Officer Lachlan Murdoch said:\n\"A compelling fall sports schedule combined with a record-breaking presidential election news cycle resulted in second quarter results that reflect the strength and breadth of FOX. Whether measured in terms of engagement, monetization or profitability, our focused strategy of live news and sports programming, coupled with our growing digital initiatives, continues to deliver. We remain committed to sustained long-term value creation for our shareholders through our thoughtful and disciplined strategy for growth.\"\nREVIEW OF OPERATING RESULTS \nThree Months EndedDecember 31,\nSix Months EndedDecember 31,\n2...

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