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Fox(FOXA) - 2025 Q3 - Quarterly Results
FOXAFox(FOXA)2025-05-12 12:04

Financial Performance - Fox Corporation reported total quarterly revenues of 4.37billion,anincreaseof4.37 billion, an increase of 924 million or 27% from the prior year quarter[3]. - Advertising revenues increased by 65% to 2.04billion,primarilyduetoSuperBowlLIXanddigitalgrowthfromtheTubiAVODservice[3].−Quarterlynetincomewas2.04 billion, primarily due to Super Bowl LIX and digital growth from the Tubi AVOD service[3]. - Quarterly net income was 354 million, down from 704millionintheprioryearquarter,withadjustednetincomeof704 million in the prior year quarter, with adjusted net income of 507 million[4]. - Adjusted EBITDA for the quarter was 856million,adecreaseof856 million, a decrease of 35 million or 4% from the prior year quarter[4]. - Cable Network Programming segment revenues increased by 11% to 1.64billion,withadvertisingrevenuesup261.64 billion, with advertising revenues up 26%[9]. - Television segment revenues rose by 40% to 2.70 billion, driven by a 77% increase in advertising revenues[12]. - Adjusted net income for the three months ended March 31, 2025, was 507million,comparedto507 million, compared to 520 million for the same period in 2024, reflecting a decrease of 2.5%[28]. Shareholder Value - The company repurchased approximately 250millionofitsClassAcommonstockduringthequarter,withatotalrepurchaseof250 million of its Class A common stock during the quarter, with a total repurchase of 5.35 billion to date[15]. - The company repurchased shares worth 750millionduringtheninemonthsendedMarch31,2025[24].−FoxCorporationmaintainsarobustbalancesheetandispositionedtodrivelong−termvalueforshareholders[4].AssetsandLiabilities−Totalassetsincreasedto750 million during the nine months ended March 31, 2025[24]. - Fox Corporation maintains a robust balance sheet and is positioned to drive long-term value for shareholders[4]. Assets and Liabilities - Total assets increased to 23,367 million as of March 31, 2025, up from 21,972milliononJune30,2024,representingagrowthof6.3421,972 million on June 30, 2024, representing a growth of 6.34%[22]. - Total current liabilities rose to 3,567 million as of March 31, 2025, compared to 2,952milliononJune30,2024,markinganincreaseof20.82,952 million on June 30, 2024, marking an increase of 20.8%[22]. - Total equity increased to 11,638 million as of March 31, 2025, up from 10,814milliononJune30,2024,indicatingagrowthof7.610,814 million on June 30, 2024, indicating a growth of 7.6%[22]. - The company’s borrowings remained stable at 6,601 million for non-current liabilities, with a slight increase from 6,598milliononJune30,2024[22].CashFlow−Cashandcashequivalentsattheendoftheperiodwere6,598 million on June 30, 2024[22]. Cash Flow - Cash and cash equivalents at the end of the period were 4,815 million, an increase of 11.5% from 4,319millionatthebeginningoftheyear[24].−Thecompanyreportedanetcashprovidedbyoperatingactivitiesof4,319 million at the beginning of the year[24]. - The company reported a net cash provided by operating activities of 1,811 million for the nine months ended March 31, 2025, compared to $941 million for the same period in 2024, an increase of 92.7%[24]. Expenses - The company experienced higher expenses due to increased sports programming rights amortization and production costs related to Super Bowl LIX[4].