Fox Corporation saw profit in its fiscal second quarter surge due to its reliance on news and sports programming, with ads tied to the 2024 presidential election and big-audience MLB and NFL telecasts giving a boost to operations at the company.
The owner of Fox News Channel and the Fox broadcast network said net income attributable to the company came to $373 million, or 81 cents per share, compared with $109 million, or 23 cents per share in the year-ago period. Revenue, meanwhile, rose to $5.08 billion, an increase of $844 million, or 20% from $4.23 billion in the year-earlier period.
More from Variety
Fox Corp. CEO Lachlan Murdoch attributed the performance to “a compelling fall sports schedule combined with a record-breaking presidential election news cycle,” and said the company would continue to focus on a strategy that emphasized “live news and sports programming,” along with digital efforts such as the ad-supported Tubi streaming outlet.
More to come….
Best of Variety
Sign up for Variety’s Newsletter. For the latest news, follow us on Facebook, Twitter, and Instagram.
