Fox Corporation Reports 27% Revenue Growth to $4.37 Billion in Latest Quarter

Fox Corporation reported significant financial performance in its latest 10-Q filing for the quarter ending March 31, 2025, with total revenues reaching $4.37 billion, a 27% increase from $3.45 billion in the same period last year. For the nine months ending March 31, 2025, revenues totaled $13.01 billion, up 20% from $10.89 billion. The company’s net income attributable to stockholders for the quarter was $346 million, down 48% from $666 million a year earlier, while for the nine-month period, net income rose 31% to $1.55 billion from $1.18 billion.

The increase in revenues was primarily driven by a substantial rise in advertising revenue, which surged by 65% to $2.04 billion for the quarter, largely due to the broadcast of Super Bowl LIX, contributing approximately $700 million. Affiliate fee revenue also saw a modest increase of 3%, attributed to higher average rates per subscriber, although this was partially offset by a decline in the average number of subscribers. Operating expenses increased significantly, rising 45% to $2.97 billion for the quarter, primarily due to higher sports programming rights costs and production expenses related to the Super Bowl.

Strategically, Fox Corporation made notable moves during the reporting period, including the acquisition of a controlling interest in a digital media company in February 2025. However, the company also faced challenges, such as the discontinuation of the Venu Sports joint venture with ESPN and Warner Bros. Discovery, which resulted in restructuring charges and a write-off of previously capitalized costs. The company recorded $55 million in restructuring and impairment costs for the quarter, compared to $15 million in the prior year.

Operationally, Fox Corporation reported a total of 214 million shares of Class A Common Stock and 236 million shares of Class B Common Stock outstanding as of May 8, 2025. The company continues to focus on enhancing its digital offerings, with Tubi, its advertising-supported video-on-demand service, contributing to revenue growth. The company’s cash and cash equivalents stood at $4.82 billion, providing a solid liquidity position to support future investments and operational needs.

Looking ahead, Fox Corporation anticipates continued revenue growth driven by political advertising related to the upcoming elections and ongoing digital expansion. However, the company remains cautious about potential challenges, including market conditions and competition in the media landscape. The management emphasized the importance of strategic investments and operational efficiency to navigate these challenges and capitalize on growth opportunities.