Fox Beats Revenue Estimates, Plans New Streaming Venture With Warner Bros. And Disney
Portfolio Pulse from Anusuya Lahiri
Fox Corp reported Q3 2024 revenues of $3.45 billion, surpassing analyst estimates and showing a significant increase in adjusted net income to $520 million. Despite a decrease in advertising revenues due to fewer NFL games and the absence of Super Bowl LVII broadcast, affiliate fee revenues grew by 4%. The company also highlighted a new streaming sports joint venture with Warner Bros. Discovery Inc and Walt Disney Co, set to target non-cable subscribers.
May 08, 2024 | 3:06 pm
News sentiment analysis
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POSITIVE IMPACT
Walt Disney Co is entering a streaming sports joint venture with Fox Corp and Warner Bros. Discovery Inc.
Disney's involvement in a new streaming sports venture with FOXA and WBD could attract more subscribers to its streaming services, likely resulting in a positive short-term impact on its stock.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Fox Corp's Q3 2024 earnings beat estimates with higher revenues and net income, and announced a new streaming venture with WBD and DIS.
The positive earnings report and the announcement of a new streaming venture are likely to boost investor confidence in FOXA, leading to a positive short-term impact on its stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Warner Bros. Discovery Inc is partnering with Fox Corp and Walt Disney Co for a new streaming sports venture.
The collaboration on a new streaming venture with FOXA and DIS could enhance WBD's market position in streaming services, potentially leading to a positive short-term impact on its stock.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80