NASDAQ$FOXA

Fox Corp · Q3 2024 earnings

Q3 2024 earnings · · Investor relations

Briefing

Fox's fiscal third quarter results for 2024 demonstrated the company's unique strategy and strong financial performance.

Fox Corporation reported Q3 2024 revenues of $3.45 billion, a decrease from the prior year, but net income increased significantly to $704 million. The growth was driven by affiliate fee revenues and a focus on live content and event programming.

  • Fox reported total quarterly revenues of $3.45 billion.
  • Net income was reported at $704 million, a significant increase from the prior year's net loss.
  • Adjusted EBITDA increased by 7% to $891 million.
  • The company repurchased approximately $250 million of its Class A common stock during the quarter.

Headline financials

Total Revenue

$3.45B

Previous: $4.08B-15.6%
EPS

$1.40

Previous: $0.94+48.9%
Adjusted EBITDA

$891M

Previous: $833M+7.0%
Capital Expenditures

-$233M

Previous: -$237M+1.7%
Free Cash Flow

$708M

Previous: $1.07B-33.8%
Net Income

$704M

Previous: -$50M+1508.0%
Operating Income

-$2.53B

Previous: -$3.22B+21.5%
Gross Profit

$1.4B

Previous: $1.36B+2.9%
Total Assets

$21.7B

Previous: $22.4B-3.0%
Stock-Based Comp

$21M

Previous: $23M-8.7%

Revenue & EPS history

Fox · Revenue · Quarterly

$3.45B

Q3 2024-15.6%vs Q3 2023
Beat estimate in 12 of 15 quarters(80%)
ActualEstimate

Revenue by segment

Fox · $3.17B total across 2 segments · Q1 2024

  • Television
    $1.78B+3.9%
  • Cable Network Programming
    $1.39B-3.1%

Forward guidance

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “should,” “likely,” “anticipates,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates,” “outlook” and similar expressions are used to identify these forward-looking statements.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2024

Historical avgQ3 2024

+0.7%

Avg return

Earnings day

+1.9%

Avg return

5 days after

+2.6%

Avg return

30 days after

57%

29 / 51 earnings

Positive

+7.6%

Q1 2026

Best reaction

-13.0%

Q4 2015

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q3 2026-0.6%+3.0%+7.0%
Q2 2026-0.7%-10.6%-14.9%
Q1 2026+7.6%+6.1%+7.7%
Q3 2025+4.4%+11.6%+8.8%
Q2 2025+4.8%+1.6%+6.6%
Q1 2025+4.6%+6.5%+10.6%
Q4 2024+7.4%+8.2%+11.2%
Q3 2024+3.2%+2.7%+5.5%
Q2 2024-9.3%-3.7%-8.7%
Q1 2024+5.1%+1.6%-0.9%
Q4 2023+4.5%+4.6%-6.7%
Q3 2023-3.1%-4.5%+5.2%
Q2 2023+4.4%+4.8%-2.7%
Q1 2023+3.6%+3.4%+11.2%
Q4 2022+7.4%+7.8%+2.3%
Q3 2022-0.0%+1.8%+0.8%
Q2 2022+7.2%+4.5%-3.7%
Q1 2022-0.7%-2.5%-13.4%
Q4 2021+4.5%+4.2%+5.3%
Q3 2021+2.5%+5.7%+1.2%
Q2 2021-3.3%-0.3%+28.0%
Q1 2021-5.4%-5.3%+10.7%
Q4 2020-5.3%-6.4%+3.8%
Q3 2020+4.9%+6.5%+28.0%
Q2 2020-2.4%-1.9%-24.2%
Q1 2020+6.5%+6.6%+7.9%
Q4 2019-3.8%-4.1%-6.1%
Q3 2019+3.5%+1.9%-8.7%
Q2 2019+0.3%
Q1 2019+1.5%
Q4 2018+0.0%
Q3 2018+0.0%
Q2 2018-6.4%
Q1 2018+4.0%
Q4 2017-0.9%
Q3 2017+1.3%
Q2 2017-3.0%
Q1 2017+5.1%
Q4 2016-3.1%
Q3 2016+0.4%
Q2 2016-3.3%
Q1 2016-5.1%
Q4 2015-13.0%
Q3 2015-2.6%
Q2 2015-4.6%
Q1 2015+0.9%
Q4 2014+6.6%
Q3 2014+5.7%
Q2 2014+1.3%
Q1 2014-0.8%
Q4 2013+1.4%
Q3 2013

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