Generated

Lachlan Murdoch reports record financial performance for Fox Corporation following a successful FIFA World Cup broadcast

Fox Corporation reported record top-line revenue of $4.21 billion for its fiscal fourth quarter, a 28% increase from the previous year. The growth was primarily driven by a 78% surge in advertising revenue, which reached $1.92 billion, largely due to the successful broadcast of the FIFA Men’s World Cup. Lachlan Murdoch stated that the company achieved one of its strongest financial performances in history, noting that the World Cup helped lift advertising across the portfolio. The free streaming service Tubi also saw significant growth, with its World Cup hub attracting over 20 million viewers. Additionally, the company announced a definitive agreement to acquire Roku for $22 billion, a move intended to transform the company's growth profile. While the company's net income dipped slightly to $696 million, it beat analyst expectations for earnings per share, posting $1.79 per share. The administration announced that the company remains well-positioned for sustained growth and long-term shareholder value as it enters the next fiscal year.

Sources