Fox Corp Q1 2025 Earnings Surpass Expectations; Super Bowl Ads Sold Out, Strong Political Ads and Soccer Revenue

Nov 4, 2024, 01:54 PM

Fox Corporation reported strong financial results for Q1 2025, driven by political advertising and soccer. The company posted an earnings per share (EPS) of $1.45, exceeding analysts' expectations of $1.11, and revenue of $3.56 billion, surpassing the anticipated $3.37 billion. CEO Lachlan Murdoch highlighted that ad inventory for Super Bowl 59 is sold out at record pricing. Tubi, Fox's streaming service, has been a significant recipient of political advertising and is on track to achieve $1 billion in revenue. Despite higher sports rights costs, sports revenue growth has been robust. Fox News remains the top news network in key swing states. The company also noted a shift in political ad spending back to local and targeted markets. Murdoch also brought back the retired Fox News slogan 'Fair and Balanced' and mentioned that the betting category advertising has returned to growth. Additionally, he confirmed that Fox is not a sublicensee of sports, addressing recent rumors about sublicensing to ESPN.