We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
{\"0\":\"Fox Corporation reported Q4 fiscal 2025 adjusted EPS of $1.27, beating estimates by 25.7%.\",\"1\":\"Revenues grew 6.3% year over year to $3.28 billion, driven by digital growth and stronger news ratings.\",\"2\":\"Adjusted EBITDA surged 21.5% year over year to $939 million with margin expansion of 360 basis points.\"}
Fox Corporation (FOXA - Free Report) reported fourth-quarter fiscal 2025 adjusted earnings per share of $1.27, which beat the Zacks Consensus Estimate by 25.7%. The figure increased 41.1% year over year.
Revenues increased 6.3% year over year to $3.28 billion, beating the consensus mark by 5.8%. Affiliate fees (58% of total revenues) increased 2.6% year over year to $1.9 billion, driven by 4% growth at the Television segment and 2% growth at the Cable Network Programming segment.
Advertising revenues (32.8% of total revenues) increased 7.1% year over year to $1.07 billion, primarily due to continued digital growth led by the Tubi AVOD service, and stronger news ratings and pricing, partially offset by the absence of the prior year broadcasts of the UEFA European Championship and CONMEBOL Copa América.
Other revenues (9.2% of total revenues) surged 33.2% year over year to $301 million.
Cable Network Programming revenues (46.6% of total revenues) increased 6.5% year over year to $1.53 billion. Advertising revenues grew 15.2%, whereas revenues from Affiliate fees rose 1.9% year over year. Other revenues increased 38.7% on a year-over-year basis, primarily due to higher sports sublicensing revenues.
Television revenues (51.9% of total revenues) rose 5.7% from the year-ago quarter’s figure to $1.70 billion. Advertising revenues jumped 3.1% year over year. Affiliate fees grew 3.6% year over year, led by higher average rates at both the company's owned and operated stations, as well as third-party FOX affiliates. Other revenues increased 33.6% year over year, primarily due to higher content revenues.
Operating Details
In the fourth quarter of fiscal 2025, operating expenses decreased 1.4% year over year to $1.75 billion. As a percentage of revenues, operating expenses contracted 420 basis points (bps) to 53.5%.
Selling, general & administrative (SG&A) expenses rose 9.5% year over year to $590 million. As a percentage of revenues, SG&A expenses expanded 50 bps to 17.9%.
Total adjusted EBITDA increased 21.5% year over year to $939 million. Adjusted EBITDA margin expanded 360 bps to 28.6%.
Cable Network Programming EBITDA rose 6.3% year over year to $747 million. Television reported an adjusted EBITDA of $308 million, up 108.1% from the year-ago quarter.
Balance Sheet
As of June 30, 2025, Fox had $5.35 billion in cash and cash equivalents compared with $4.81 billion as of March 31, 2025.
Fox's total borrowings as of June 30, 2025, consisted of $599 million in current borrowings and $6,598 million in non-current borrowings, according to the company's fiscal 2025 fourth-quarter earnings report released on Aug. 5, 2025.
Image: Shutterstock
FOXA Q4 Earnings Surpass Estimates, Revenues Increase Y/Y
Key Takeaways
Fox Corporation (FOXA - Free Report) reported fourth-quarter fiscal 2025 adjusted earnings per share of $1.27, which beat the Zacks Consensus Estimate by 25.7%. The figure increased 41.1% year over year.
Revenues increased 6.3% year over year to $3.28 billion, beating the consensus mark by 5.8%. Affiliate fees (58% of total revenues) increased 2.6% year over year to $1.9 billion, driven by 4% growth at the Television segment and 2% growth at the Cable Network Programming segment.
Advertising revenues (32.8% of total revenues) increased 7.1% year over year to $1.07 billion, primarily due to continued digital growth led by the Tubi AVOD service, and stronger news ratings and pricing, partially offset by the absence of the prior year broadcasts of the UEFA European Championship and CONMEBOL Copa América.
Other revenues (9.2% of total revenues) surged 33.2% year over year to $301 million.
Fox Corporation Price and EPS Surprise
Fox Corporation price-eps-surprise | Fox Corporation Quote
Top-Line Details
Cable Network Programming revenues (46.6% of total revenues) increased 6.5% year over year to $1.53 billion. Advertising revenues grew 15.2%, whereas revenues from Affiliate fees rose 1.9% year over year. Other revenues increased 38.7% on a year-over-year basis, primarily due to higher sports sublicensing revenues.
Television revenues (51.9% of total revenues) rose 5.7% from the year-ago quarter’s figure to $1.70 billion. Advertising revenues jumped 3.1% year over year. Affiliate fees grew 3.6% year over year, led by higher average rates at both the company's owned and operated stations, as well as third-party FOX affiliates. Other revenues increased 33.6% year over year, primarily due to higher content revenues.
Operating Details
In the fourth quarter of fiscal 2025, operating expenses decreased 1.4% year over year to $1.75 billion. As a percentage of revenues, operating expenses contracted 420 basis points (bps) to 53.5%.
Selling, general & administrative (SG&A) expenses rose 9.5% year over year to $590 million. As a percentage of revenues, SG&A expenses expanded 50 bps to 17.9%.
Total adjusted EBITDA increased 21.5% year over year to $939 million. Adjusted EBITDA margin expanded 360 bps to 28.6%.
Cable Network Programming EBITDA rose 6.3% year over year to $747 million. Television reported an adjusted EBITDA of $308 million, up 108.1% from the year-ago quarter.
Balance Sheet
As of June 30, 2025, Fox had $5.35 billion in cash and cash equivalents compared with $4.81 billion as of March 31, 2025.
Fox's total borrowings as of June 30, 2025, consisted of $599 million in current borrowings and $6,598 million in non-current borrowings, according to the company's fiscal 2025 fourth-quarter earnings report released on Aug. 5, 2025.
Zacks Rank & Other Stocks to Consider
Fox currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader Zacks Consumer Discretionary sector are American Public Education (APEI - Free Report) , Central Garden & Pet (CENT - Free Report) and Amer Sports (AS - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of American Public Education have gained 33.9% year to date. American Public Education is set to report second-quarter 2025 results on Aug. 6.
Shares of Central Garden & Pet have risen 1.3% year to date. Central Garden & Pet is slated to report third-quarter fiscal 2025 results on Aug. 6.
Shares of Amer Sports have jumped 37.8% year to date. Amer Sports is set to report second-quarter 2025 results on Aug. 19.