World Cup Boosts Fox Ad Sales in Q2, Profit Falls 3%

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World Cup Boosts Fox Ad Sales in Q2, Profit Falls 3%

Variety · 2 hours ago

Fox reported that advertising sales surged during its fiscal fourth quarter (April to June) thanks to its broadcast of the FIFA Men's World Cup, though overall profit still fell 3% year-on-year to $696 million. The results underline how major sporting events remain a key revenue driver for traditional broadcasters even as profitability faces other pressures, with CEO Lachlan Murdoch hailing the quarter as capping an "exceptional" year for the company that also saw the launch of its FOX One streaming service and a planned acquisition of Roku.

Total ad sales rose 78% (108% within the TV division alone), with TV division revenue up 45% to $2.5 billion and cable network ad sales up 22% to $83 million. Distribution revenue climbed 7% to $2.03 billion, while content and other revenue slipped over 2% to $262 million. Fox posted adjusted earnings per share of $1.79 on $4.2 billion in revenue, beating Wall Street's forecast of $1.34 EPS on $3.6 billion. For the full fiscal year, revenue reached $17.13 billion, up 5%, and Murdoch confirmed no changes are planned to Fox's NFL deal before it expires after the 2029 season.

  • World Cup broadcast drove a surge in Fox's Q4 ad sales
  • Quarterly profit still dipped 3% to $696 million
  • Full-year revenue hit $17.13 billion, beating Wall Street forecasts

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