Fox Corp Q1 FY2023 revenue $3.19B (+5%), adjusted EPS $1.21 (+$0.10)

Fox Corporation (Nasdaq: FOXA, FOX) (“FOX” or the “Company”) today reported financial results for the three months ended September 30, 2022. The Company reported total quarterly revenues of $3.19 billion, a 5% increase from the $3.05 billion reported in the prior year quarter. Affiliate revenues increased 3% led by 6% growth at the Television segment. Advertising revenues increased 8%, primarily due to higher political advertising revenues at the FOX Television Stations, continued strength in pricing across the Company’s news and sports brands, and continued growth at TUBI. Other revenues increased 5%, primarily due to higher FOX Nation subscription revenues and the impact of the consolidation of entertainment production companies at the Television segment. The Company reported quarterly net income of $613 million as compared to the $708 million reported in the prior year quarter. The change in net income was primarily due to higher gains recognized in Other, net in the prior year quar