Fox Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended March 31, 2024
May 08, 2024 at 04:09 pm EDT
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Fox Corporation reported earnings results for the third quarter and nine months ended March 31, 2024. For the third quarter, the company reported sales was USD 3,447 million compared to USD 4,084 million a year ago. Net income was USD 666 million compared to net loss of USD 54 million a year ago. Basic earnings per share from continuing operations was USD 1.41 compared to basic loss per share from continuing operations of USD 0.1 a year ago. Diluted earnings per share from continuing operations was USD 1.4 compared to diluted loss per share from continuing operations of USD 0.1 a year ago.
For the nine months, sales was USD 10,888 million compared to USD 11,881 million a year ago. Net income was USD 1,182 million compared to USD 864 million a year ago. Basic earnings per share from continuing operations was USD 2.45 compared to USD 1.61 a year ago. Diluted earnings per share from continuing operations was USD 2.44 compared to USD 1.6 a year ago.
Fox Corporation is a news, sports, and entertainment company. The Company operates in three segments: Cable Network Programming, Television and Other, Corporate and Eliminations. The Cable Network Programming segment produces, and licenses news and sports content distributed through traditional cable television systems, direct broadcast satellite operators and telecommunication companies (traditional MVPDs), virtual multi-channel video programming distributors (virtual MVPDs) and other digital platforms primarily in the United States. The Television segment produces, acquires, markets, and distributes programming through the FOX broadcast network, advertising supported video-on-demand (AVOD) service TUBI, 29 full broadcast television stations, including 11 duopolies, and other digital platforms, primarily in the United States. The Other, Corporate and Eliminations segment consists of the FOX Studio Lot, which provides television and film production services and Credible Labs Inc.