Sector: Communication Services|Industry: Entertainment|Market Cap: $21.91B|Employees: 10.2K
Fox Corporation is a news, sports, and entertainment company that operates through two reportable segments: Cable Network Programming and Television. The company's core business model involves producing and licensing content for distribution through traditional cable systems, broadcast networks, and digital platforms. Fox holds leading market positions in live news and sports programming, with a significant presence in major U.S. markets.
Fox Corporation reported a 20% increase in revenue for the three months ended December 31, 2024, reaching $5.078 billion compared to $4.234 billion in the prior year. This growth was fueled by higher affiliate fees, advertising revenue, and other income streams, indicating a strong demand for Fox's content and advertising platforms.
Operating expenses increased by 11% to $3.776 billion, primarily due to higher sports programming rights amortization and production costs. This increase in expenses, while contributing to revenue growth, puts pressure on the company's profit margins and requires careful cost management.
Net income attributable to Fox Corporation stockholders increased significantly to $373 million, compared to $109 million in the prior year. This substantial increase was driven by higher Segment EBITDA and a change in fair value of the Company's investments in equity securities.