Overview
- Revenue rose about 5% to $3.74 billion and adjusted EPS hit $1.51, topping consensus estimates for both metrics.
- Net income declined to roughly $609 million from about $832 million a year earlier due to increased digital marketing, content spending and entertainment-rights amortization.
- Tubi posted its first quarterly profit with revenue up 27% and viewing time up 18%, and management signaled medium-term EBITDA margins of 20% to 25%.
- Fox One launched during the quarter and early adoption exceeded expectations, with uptake helped by bundles and weekend sports driving usage.
- The company announced a $1.5 billion accelerated share repurchase starting Oct. 31, as advertising grew about 6% led by Tubi, NFL audiences and record first-quarter ad revenue at Fox News.