World Cup Drives Fox Subscriber Growth Beyond Expectations, Q4 Revenue Surges 28%
FOX sits 25% above its 52-week low of $44.08 on light trading volume (0.3× avg).
Summary
Fox's Q4 revenue jumped 28% to $4.21 billion, beating estimates by over $500 million, driven by World Cup advertising. CEO Lachlan Murdoch said the tournament also fueled subscriber growth and retention that 'surpassed our expectations' for the Fox One streaming service, with minimal cannibalization of traditional pay-TV. Fox One recorded 2.8 million sign-ups in June, its strongest month ever and more than double the NFL playoff-driven sign-ups. This follows the earlier Q4 results release today and adds key details from the conference call, reinforcing the strategic value of live sports in building the streaming business. The strong cash position and ongoing Roku acquisition backdrop add to the positive narrative.
At the time of this announcement, FOX was trading at $55.29 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $24.6B. The 52-week trading range was $44.08 to $68.18. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Benzinga.