Media and entertainment company Fox Corporation (NASDAQ: FOXA, FOX) has reported financial results for the three months ended March 31, 2023.
- Third-quarter revenues rose 18% to $4.08 billion from the $3.46 billion reported in the prior year quarter
- Ad revenues increased 43%, reflecting the impact of Super Bowl LVII, a higher volume of NFL games, and continued growth at Tubi
- Affiliate fee revenues rose 3% with 9% growth in the Television segment
- Other revenues remained essentially unchanged from the prior-year quarter
- Fox reported a net loss of $50 million for Q3, compared to net income of $290 million last year
- Adjusted net income attributable to stockholders was $0.94 per share vs. $0.81 per share in Q3 2022