Fox Corp Q3 Revenue $3.99B with $175M Net Income, $954M EBITDA
FOXA•Fox Corporation reported fiscal Q3 revenue of $3.99 billion, down from $4.37 billion a year earlier, driven by 3% growth in distribution and 12% in content revenue. Quarterly net income totaled $175 million, while adjusted EBITDA rose 11% to $954 million on lower sports programming and production costs.
1. Financial Highlights
For the quarter ended March 31, Fox achieved total revenue of $3.99 billion versus $4.37 billion a year prior. Net income was $175 million compared with $354 million, while adjusted EBITDA increased 11% to $954 million from $856 million.
2. Revenue Drivers
Distribution revenue climbed 3% to $2.11 billion, led by a 5% gain in Cable Network Programming. Content and other revenue rose 12% to $331 million, offsetting a drop in advertising revenue to $1.56 billion due to the absence of Super Bowl LIX.
3. Cost Reductions Boost EBITDA
Total operating expenses declined, led by lower sports programming rights amortization and production costs. These savings more than offset higher costs from an additional NFL Wild Card game and investment in the Fox One channel.
4. Management Outlook
Leadership cited strong momentum in live programming and continued growth at Tubi’s AVOD service. They pointed to the upcoming FIFA Men’s World Cup and a strong balance sheet as drivers of long-term shareholder value.
