Fox(FOXA) - 2025 Q2 - Quarterly Results

Financial Performance - Fox Corporation reported total quarterly revenues of $5.08 billion, an increase of$844 million or 20% year-over-year[3]. - Net income for the quarter was $388 million, compared to$115 million in the prior year quarter, representing a significant increase[4]. - Adjusted EBITDA reached $781 million, an increase of$431 million or 123% from the prior year quarter[4]. - Advertising revenues rose by 21% to $2.42 billion, primarily due to higher political advertising and increased digital growth from the Tubi AVOD service[3]. - Other revenues surged by 70$756 million, mainly due to higher sports sublicensing revenues[3]. - Adjusted Net Income for the quarter was $442 million, with an Adjusted EPS of$0.96, up from $165 million and$0.34 in the prior year[28]. - Adjusted EBITDA for the three months ended December 31, 2024, was $781 million, compared to$350 million for the same period in 2023, representing a significant increase of 123.4%[34]. Revenue Breakdown - Affiliate fee revenues increased by 6% to $1.9 billion, driven by 9$2.17 billion, an increase of $507 million or 31$2.96 billion, an increase of $419 million or 16$0.27 per Class A and Class B share, payable on March 26, 2025[15]. - As of December 31, 2024, Fox Corporation repurchased approximately $5.1 billion of its Class A common stock and$1 billion of its Class B common stock, with a remaining authorization of $900 million[15]. - The company engaged in share repurchases amounting to$500 million during the six months ended December 31, 2024[24]. Assets and Liabilities - Total assets increased to $23,022 million as of December 31, 2024, compared to$21,972 million as of June 30, 2024, reflecting a growth of approximately 4.8%[22]. - Cash and cash equivalents decreased to $3,322 million from$4,319 million, marking a decline of about 23.1%[24]. - Total current liabilities rose to $3,297 million as of December 31, 2024, compared to$2,952 million as of June 30, 2024, indicating an increase of approximately 11.7%[22]. - The company reported a net decrease in cash and cash equivalents of $997 million for the six months ended December 31, 2024[24]. - The company’s retained earnings increased to$3,949 million as of December 31, 2024, up from $3,139 million as of June 30, 2024[22]. Cash Flow - Net cash used in operating activities for the six months ended December 31, 2024, was$(204) million, an improvement from $(535) million in the same period of 2023[24].