Reported 21 days ago
Fox Corp reported stronger-than-expected first-quarter revenue, driven by a significant increase in political advertising ahead of the U.S. presidential election, leading to a nearly 5% rise in its shares. The company benefitted from higher viewership of traditional news amid the competitive race between Kamala Harris and Donald Trump, with advertising revenue climbing 11% to $1.33 billion. Additionally, its streaming platform Tubi emerged as a key player in political advertising, with expectations to exceed $1 billion in revenue for the fiscal year.
Source: YAHOO