Fox Corp Launches $7B Buyback, Dividend Boost After Q4 Beat: 'The Power Of The FOX Platform Was On Full Display'
Portfolio Pulse from Anusuya Lahiri
Fox Corp (NASDAQ:FOXA) reported Q4 FY23 revenue of $3.03 billion, beating the consensus of $3.02 billion. Affiliate revenues increased 3% Y/Y to $1.77 billion, led by 9% growth in the Television segment. Advertising revenues decreased 4% Y/Y to $1.01 billion. Adjusted EPS of $0.88 beat the consensus of $0.71. Fox raised the quarterly dividend to $0.26 per share, up from $0.25 and authorized a $7 billion stock repurchase program.
August 08, 2023 | 1:16 pm
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POSITIVE IMPACT
Fox Corp reported better than expected Q4 FY23 results, raised its dividend and announced a $7 billion stock repurchase program. This could lead to a positive short-term impact on the stock.
Fox Corp's better than expected earnings, increased dividend and stock repurchase program are all positive news for investors. This could lead to increased demand for the stock in the short term, potentially driving up the price.
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