Fox beats quarterly revenue estimates as Super Bowl boosts advertising

Reuters

Mon, May 12, 2025, 5:06 AM 1 min read

(Reuters) -Fox Corp beat Wall Street estimates for third-quarter revenue on Monday, thanks to advertising growth driven by the Super Bowl, strength in its Tubi streaming service and stronger news ratings and pricing.

More advertisers have turned to the company, which owns brands such as FOX News, FOX Sports and the Tubi streaming service, to capture its growing viewership amid economic uncertainty due to changing U.S. trade policies.

An estimated 127.7 million viewers tuned in for the Super Bowl National Football League championship broadcast by Fox, the largest audience in TV history for a single-network telecast, the Nielsen ratings agency said in February.

The Super Bowl is the biggest event on U.S. television and its audience has grown in recent years, while viewership for much of traditional TV has declined. This year, advertisers paid as much as $8 million for 30 seconds of commercial time during the game.

Revenue rose 27% to $4.37 billion in the third quarter, compared with analysts' average estimate of $4.18 billion, according to data compiled by LSEG.

Advertising revenue increased 65% to $2.04 billion, beating an estimate of $1.67 billion.

Net income attributable to Fox stockholders was $346 million, compared with $666 million a year ago.

The company reported an increase in expenses and attributed it mainly due to higher costs for sports programming rights and production related to the "Super Bowl LIX" broadcast, as well as higher spending on digital content and marketing.

Fox's adjusted profit per share of $1.10 beat an estimate of $0.91 per share.

(Reporting by Jaspreet Singh in Bengaluru; Editing by Pooja Desai)