Fox Corp beats estimates on Tubi growth and cable fees
Fox Corp beat quarterly estimates with $3.99 billion in revenue. Growth in Tubi and higher fees offset a drop in ad revenue from the prior year's Super Bowl.
FOX CORP - CLASS B reported third-quarter revenue of $3.99B and adjusted EPS of $1.32, exceeding analyst estimates of $3.82B and $0.97. Shares rose more than 3% on May 11 as growth in the Tubi streaming service offset a 24% decline in total advertising revenue. The results reflected margin maintenance through distribution fees and digital expansion despite the absence of major sporting events like the Super Bowl.
### Tubi and Distribution Fees Drive Growth Tubi revenue rose 23% during the quarter, supported by a 19% increase in total viewing time. The streaming platform now hosts 17,000 episodes from 220 creators alongside its original titles.
