Fox CEO Lachlan Murdoch noted that Fox News' ratings and stock price improved last quarter and that the company expects a big boost at the cable news network and Fox TV networks as the election campaign heats up again.
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Fox reported a mixed fiscal fourth quarter this morning, with total revenue of $3.09 billion for the three months ended June, up 2% from a year earlier and roughly in line with Wall Street estimates. Advertising revenue was flat, as gains at Fox Sports and Tubi were offset by a decline at Fox Network.
"Tubi continues to go from strength to strength," Murdoch said in a post-earnings call. Fox Sports cleared out Summer of Soccer, including coverage of the UEFA European Championship and Copa América. Sports will get a boost from the Super Bowl in fiscal year 2025 — the first under the new NFL contract.
Sports also took center stage, Murdoch said, with Fox recently capping off both price and volume increases in its annual dance with advertisers.
