Fox Reports Q3 Profit Surge Despite Advertising Revenue Decline

Boosted by a lack of legal charges and increased affiliate fees, Fox's fiscal third-quarter earnings rebounded sharply.

Fox Corp. recorded a net income of $704 million in Q3, a significant recovery from a $50 million loss in the same period last year.
Advertising revenue fell to $1.2 billion, down from $1.9 billion, attributed to the absence of Super Bowl ad sales.
Affiliate fee revenue increased, cushioning the impact of the advertising slump.
Fox emphasized its strategic focus on live content and event programming to drive future growth.
Plans for a new streaming sports joint venture and expansion of Tubi highlight Fox's pivot towards digital and streaming services.