Fox Corp tops revenue estimates on news and sports ads

FOX CORP - CLASS A reported third-quarter revenue of $3.99B, surpassing the $3.82B average estimate compiled by LSEG. The result follows a surge in advertising demand across the media company's sports, news, and Tubi streaming divisions. Investors pushed shares up 6% during Monday premarket trading as live programming demand offset broader linear television declines.

### Sports and News Drive Advertising Gains Advertising revenue for cable network programming rose 5% during the quarter. Fox attributed the growth to higher news pricing and the broadcast of the World Baseball Classic. These gains occurred despite lower overall ratings in some segments, according to the company's financial statement.