Fox reported advertising revenue of $1.01 billion, beating expectations of $985.7 million, according to Visible Alpha. The company reported quarterly revenue of $3.03 billion, largely in-line with market estimates, while net income attributable to stockholders stood at $375 million, compared with $306 million a year earlier. On an adjusted basis, Fox earned 88 cents per share, beating estimates of 72 cents. Fox, however, faces risks from its news, cord cutting (viewers canceling their subscriptions) and sports rights costs, analysts have said. The company ended the quarter with $4.3 billion in cash and about $7.2 billion in debt.

Source: Fox News August 08, 2023 13:40 UTC