Fox Corporation Reports Q1 2024 Financial Results

Details

The company reported total quarterly revenues of $3.45 billion, net income of $704 million, and Adjusted EBITDA of $891 million. Despite a year-over-year decline in revenues primarily due to the absence of the prior year broadcast of Super Bowl LVII and fewer NFL games, the company's net income and Adjusted EBITDA saw improvements. The Television segment's advertising revenues increased by 9%, and the company repurchased approximately $250 million of its Class A common stock during the quarter. Fox Corporation also furnished its financial statements and exhibits as part of this filing.

Items reported

Exhibits (1)

About Fox Corporation

Fox Corporation is a notable entity in the media and entertainment industry, primarily focused on television broadcasting, news, and sports programming. The company operates key television networks including FOX broadcast network, FOX News, FOX Business, and FOX Sports, making it a significant player in delivering live television content to a large audience. Fox Corporation is known for its engaging programming that spans across various genres such as entertainment, sports, and news, impacting sectors like advertising, media production, and digital streaming. Founded in 2019 following the acquisition of 21st Century Fox by The Walt Disney Company, Fox Corporation concentrates its efforts on live and prime-time programming. The company's strategic focus on cable news and sports positions it as a mainstay in American homes, contributing to public discourse and cultural trends. With its headquarters in New York City, Fox Corporation plays a pivotal role in shaping the media landscape by continuously adapting to the evolving preferences of viewers and the technological advancements in content delivery.