Fox Corporation's shares rose 5.1% following third quarter results that demonstrated solid revenue growth and margin expansion, driven by advertising strength at FOX News and distribution gains from Fox One.
- Reported $4 billion in revenue, with EBITDA rising 11% to just over $950 million.
- Distribution revenue increased 3%, benefiting from early success and strong retention on Fox One.
- Excluding the Super Bowl timing impact, advertising revenue grew double digits, led by FOX News hitting its highest Q3 ad revenue ever.
- FOX News maintained leadership as the most watched cable network in total day and Prime; digital viewership also grew double digits year-over-year.
- Tubi’s revenue grew 23% with a 19% increase in total view time, supported by expanding creator content.
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