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Dec 31, 2020
Fox Q2 2021 Earnings Report
Fox's financial performance increased, driven by revenue growth in the Television and Cable Network Programming segments.
Key Takeaways
Fox Corporation reported an 8% increase in total quarterly revenues, reaching $4.09 billion, driven by growth in the Television and Cable Network Programming segments. Net income was $230 million, with earnings per share of $0.37. Adjusted EBITDA increased by 17% to $305 million.
Total quarterly revenues increased by 8% to $4.09 billion, driven by revenue growth in the Television and Cable Network Programming segments.
Advertising revenues increased by 14%, primarily due to record political advertising revenues at FOX Television Stations, continued linear and digital growth at FOX News Media, and the consolidation of Tubi.
Affiliate revenues increased by 6%, led by growth at the Television segment.
Adjusted EBITDA increased by 17% to $305 million, led by higher contributions at the Television and Cable Network Programming segments.
Fox
Fox
Fox Revenue by Segment
Revenue by Segment
Cable Network Programming Revenue
CapyFin.comTelevision Revenue
CapyFin.comCorporate and Other Revenue
CapyFin.com Forward Guidance
Management anticipates a return to normal entertainment and sports production schedules and is grateful to colleagues and business partners who have ensured viewers are informed and engaged during the pandemic.
Challenges Ahead
- Weak economic conditions and increased volatility in financial markets pose risks.
- The COVID-19 pandemic has caused some advertisers to reduce spending, which could further impact advertising expenditures.
- Changes in consumer behavior, such as canceling multi-channel video subscriptions, could adversely affect affiliate fee and advertising revenues.
- Potential for additional content disruptions in the future due to COVID-19, which could materially affect advertising and affiliate fee revenues.
- Shifting sports schedules may negatively impact the ability to attract viewers and advertisers to sports and entertainment programming.
Revenue & Expenses
Visualization of income flow from segment revenue to net income