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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.
Revenue by Segment
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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