Political Ads Drive Advertising Surge at Fox News Owner Fox Corp.
Strong political advertising drove Fox Corp. to a big quarter, with ad revenue surging and profits more than doubling compared to a year ago.
Fox reported revenues of $3.56 billion, up 11 percent from a year earlier, including advertising revenues of more than $1.3 billion, also up 11 percent. Meanwhile, net income was $832 million, more than double the profits a year ago of $415 million.
“Fiscal 2025 is off to a solid start across our portfolio with strong audience growth at Fox News, record political advertising across the company, accelerating revenue growth at Tubi and a compelling start to our fall sports calendar,” Fox CEO Lachlan Murdoch said in a statement. “Collectively these contributions have combined to deliver particularly strong financial results in our fiscal first quarter led by notable top line revenue and earnings growth. Our strategy and our focus are delivering for our audiences, advertising and distribution partners, and the Fox shareholders.”
More to come.
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