What To Expect From Fox’s Q4 Earnings

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21st Century Fox (NYSE:FOX) is scheduled to announce its fiscal fourth quarter results on Wednesday, August 9. The company reported mixed fiscal third quarter results, as its earnings per share came in ahead of expectations but revenue missed. In Q3, Fox’s overall revenue increased 5% year-over-year (y-0-y) to $7.6 billion, driven by higher advertising revenues at the Television segment and affiliate revenue growth at the Cable Networks segment. However, this growth in revenues was partially offset by lower content revenues at the Filmed Entertainment segment.

In the fourth quarter, Fox will benefit from Fox News, which continued to see strong ratings in this quarter as well. These solid ratings could further help boost advertising revenues in the quarter. In addition, Fox studios grossed around $386 million at the U.S. box office during the June quarter, led by the success of The Boss Baby and Alien: Covenant. To add to that, the studio’s performance was fairly strong in this quarter as compared to the prior year quarter, which should boost year-on-year studio revenue for the fourth quarter.

Fox News Continues To See Strong Ratings

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Fox News remained the most-watched cable news network in the June quarter as well. In prime time, the network grew 19% y-o-y in total viewers and 34% y-o-y in the 25-54 year-old demographic. In total day, Fox News grew 27% y-o-y in total viewers and 45% y-o-y in the 25-54 group. [1]

In the upcoming earnings, consensus estimates forecast revenues of $6.77 billion and earnings of 37 cents per share in the fourth quarter. 

Have more questions on 21st Century Fox? Please refer to our complete analysis for 21st Century Fox 

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Notes:
  1. Fox News is the Most-Watched Cable News Network for 62 Straight Quarters, Adweek, June 2017 []