Fox reports 5% YoY rise in revenue to $2.5B in fiscal Q4

Wednesday, 07. August 2019 22:25

American television broadcasting company Fox Corporation said on Wednesday that its revenue in the fiscal fourth quarter rose 5% year over year to $2.51 billion, topping analyst estimates. During its first full quarter as a stand-alone company, the increase in revenue was partially offset by a 6% decline in advertising revenues, Fox added.

Adjusted earnings per share were $0.62, or 7% lower than in the year-ago quarter, driven by a decrease in adjusted net income over higher interest expense. Quarterly net income fell to $454 million (or $0.73 per share).

"The strategic rationale for the formation of Fox Corporation, with our unique set of assets, is underscored by our strong Fiscal 2019 operational and financial results that include top-line growth across our operating segments and key revenue categories," chief executive officer Lachlan Murdoch said in the earnings release.

"We are strongly positioned as we enter our first full fiscal year, during which we will broadcast Super Bowl LIV, become the home of WWE’s Smackdown LIVE, and further our digital growth, all while continuing to deliver the compelling news, sports and entertainment content that our audiences have come to expect from FOX," he added.

Related Links: 21st Century Fox
Breaking the News / JC