Fox Shares Drop 5% Despite Q2 Beat
Fox Shares Drop 5% Despite Q2 Beat

Fox Shares Drop 5% Despite Q2 Beat

Feb. 7, 2024, 1:27 p.m., readers: 14

Fox Corporation (NASDAQ:FOX) shares fell more than 5% intra-day today despite the company reporting earnings and revenue for the second quarter that exceeded expectations. The company achieved an earnings per share (EPS) of $0.34, beating the forecast of $0.12. Fox's revenue for the quarter reached $4.23 billion, narrowly surpassing the $4.21 billion consensus estimate. Revenue from cable network programming was $1.66 billion, exceeding the $1.59 billion expectation. TV revenue, however, slightly missed the mark at $2.54 billion compared to the expected $2.6 billion. Advertising revenue amounted to $2.00 billion, not meeting the $2.1 billion forecast. On the other hand, affiliate fee revenue outperformed projections, reporting $1.79 billion against the anticipated $1.74 billion.


About NASDAQ: FOX

F ox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments.

Price: 27.78
Market cap: 6.5 billion USD
Eps: 1.71
P/e ratio: 16.25
Terminal Research: FOX