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Fox Corporation (FOX-0.23%) has submitted its Form 10-Q filing for the quarterly period ended December 31, 2024.
The filing reports a 20% increase in total revenues to $5.08 billion for the three months ended December 31, 2024, compared to $4.23 billion in the same period the previous year. This increase was driven by higher affiliate fees, advertising, and other revenues.
Operating expenses rose by 11% to $3.78 billion, primarily due to increased sports programming rights amortization and production costs.
Net income attributable to Fox Corporation stockholders was $373 million, up from $109 million in the prior year, reflecting higher revenues and a change in the fair value of investments in equity securities.
The Cable Network Programming segment reported a 31% increase in revenues to $2.17 billion, driven by higher affiliate fees, advertising, and sports sublicensing revenue.
The Television segment saw a 16% increase in revenues to $2.96 billion, attributed to higher political advertising revenue and digital growth led by Tubi.
Fox Corporation repurchased approximately 12 million shares of Class A Common Stock for $500 million during the six months ended December 31, 2024.
The company declared a semi-annual dividend of $0.27 per share on both Class A and Class B Common Stock, payable on March 26, 2025.
Fox Corporation continues to face legal proceedings, including defamation lawsuits and claims related to misuse of personal information, which could have material impacts on its financial condition.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Fox Corporation quarterly 10-Q report dated February 4, 2025. To report an error, please email earnings@qz.com.