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(Sharecast News) - Fox Corporation posted above-forecast quarterly numbers on Monday, sending shares in the US broadcaster sharply higher.
The owner of Fox News and Fox Sports posted revenues of $3.99bn for the three months to 31 March, down on the $4.37bn posted in the third quarter of 2025 but ahead of Wall Street expectations for $3.82bn.
Advertising revenues fell to $1.56bn from $2.04bn a year previously, when Fox benefited from broadcasting the Super Bowl. Under the terms of a long-term broadcast agreement with the National Football League, NBC broadcast the final this year.
However, that was partially offset by a 3% rise in distribution revenues, driven by a 5% uplift in cable network programming.
Adjusted earnings before interest, tax, depreciation and amortisation rose to $954m from $856m, while adjusted net income per share increased to $1.32 from $1.10. Analysts had been expecting a decline, to $0.97.
Lachlan Murdoch, chief executive, said: "This strong performance, led by robust core advertising trends, underscores Fox's leadership in live programming, bolstered by continued strength at our leading free streaming service Tubi."
The stock, which sparked 6% in pre-market trading, jumped as markets opened, and was 5% stronger as at 1430 BST.
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