Fox Corporation reported strong financial results for the three months ending December 31, 2024. Total quarterly revenues were $5.08 billion, reflecting a 20% increase ($844 million) from the previous year. This growth was driven by a 6% rise in affiliate fee revenues, with notable contributions from the Television and Cable Network Programming segments. Advertising revenues surged by 21%, largely due to increased political advertising, higher MLB postseason ratings, NFL pricing, digital growth via the Tubi AVOD service, and stronger news ratings. Other revenues rose 70%, primarily from higher sports sublicensing revenues.

Net income for the quarter reached $388 million, up from $115 million in the previous year. Net income attributable to stockholders was $373 million ($0.81 per share), compared to $109 million ($0.23 per share) a year ago. Adjusted net income attributable to Fox stockholders was $442 million ($0.96 per share), up from $165 million ($0.34 per share) in the prior quarter.

Adjusted EBITDA also saw impressive growth, increasing by 123% to $781 million, driven by the revenue increase, though higher sports programming rights amortization, production costs, and digital costs contributed to higher expenses.