Fox Ad Revenue Surged Nearly 50% As FYQ1 Buoyed By World Cup, Political, Tubi

Fox Corporation’s first-quarter revenue rose 22% to $4.57 billion, beating expectations as advertising sales surged. The results were supported by the FIFA Men’s World Cup, political advertising and continued digital growth led by Tubi, while higher sports and digital content costs partly offset the gains.

Profit reached $957 million, up from $609 million a year earlier, and earnings per share rose to $2.20 from $1.32; adjusted EBITDA increased 54% to $1.64 billion. Fox said political advertising had generated about $350 million this cycle, including $250 million on local stations and about $50 million each on Tubi and national advertising. Shares rose more than 5% before trading, while the proposed $22 billion Fox-Roku deal is progressing through regulatory review, with Fox saying it will close as soon as it can.