FIFA Women's World Cup - A Revenue Booster For Fox
Portfolio Pulse from Anusuya Lahiri
Fox Corp reported Q1 FY24 revenue of $3.21 billion, beating the consensus of $3.18 billion. The company's adjusted EPS was $1.09, higher than the consensus of $1.02. Affiliate revenues increased 2% Y/Y to $1.74 billion, led by 8% growth in the Television segment. However, advertising revenues decreased 2% Y/Y to $1.20 billion, despite the broadcast of the FIFA Women's World Cup and growth at Tubi. Adjusted EBITDA was $869 million, down from $1.09 billion a year ago. The company held $3.83 billion in cash and equivalents.
November 02, 2023 | 4:20 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Fox Corp reported better than expected Q1 FY24 revenue and EPS. However, advertising revenues decreased despite the broadcast of the FIFA Women's World Cup and growth at Tubi.
Fox Corp's better than expected Q1 FY24 revenue and EPS are positive for the stock. However, the decrease in advertising revenues despite high-profile events like the FIFA Women's World Cup and growth at Tubi could be a concern for investors. The company's stock traded higher by 1.90% at $28.43 on the last check Thursday, indicating a positive market reaction to the earnings report.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100