
Erik McGregor, LightRocket / Getty Images
The Key Takeaways
- FOX stock soared on Tuesday, after the media company reported better-than expected quarterly results. It also announced during its earnings call it planned to launch a streaming-service by the end the year.
- FOX’s flagship channel will broadcast Super Bowl LIX Sunday on its free Tubi streaming service, which is supported by ads.
- Lachlan Murdoch, CEO of Lachlan Media Group said that the company plans to launch its direct-to consumer streaming service before the end 2025.
FOX shares soared on Tuesday, after the media company reported quarterly results that were better than expected and revealed in its earnings conference call plans to launch an online streaming service before the end of this year.
FOX’s fiscal 2025 2nd quarter profit was $373 million or $0.81/share on revenue of $5.08 Billion. VisibleAlpha polled the analysts and they expected profits of 301.1 million dollars, or $0.66 a share on revenues of $4.83 Billion.
"A compelling fall sports schedule combined with a record-breaking presidential election news cycle resulted in second quarter results that reflect the strength and breadth of FOX," CEO Lachlan Murdoch said. "Whether measured in terms of engagement, monetization or profitability, our focused strategy of live news and sports programming, coupled with our growing digital initiatives, continues to deliver."
FOX sells out Super Bowl LIX ads
FOX’s flagship channel will broadcast Super Bowl LIX Sunday on its free Tubi streaming service, which is supported by ads.
"We are sold out with a record pricing for this Sunday's Super Bowl 59," Murdoch said on the earnings call, according to a transcript provided by AlphaSense. "We can't wait for the big game."
Murdoch said the company plans to launch its direct-to consumer (DTC), streaming service before the end of the year 2025. "In terms of timing and launch, we're certainly targeting a launch by the end of this calendar year," Murdoch said.
The Walt Disney Co.(DIS) and Warner Bros. Discovery (WBD), a joint venture with Warner Bros., cancelled Venu Sports just before its launch.
FOX’s shares rose 4% on Tuesday. These shares have risen by nearly 75% since last year.
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