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Political Ads, Soccer Drive Q1 Fox Profit
Fox Corp. said political advertising ahead of the 2024 presidential election and advertising tied to a new summer soccer schedule boosted its Q1
A surge in ad revenue tied to the coming 2024 presidential election and to a summer filled with soccer broadcasts boosted results in Fox Corp’s first fiscal quarter. The owner of the Fox broadcast network, Fox Sports and Fox News Media said net income attributable to Fox Corporation stockholders came to $827 million, or $1.78 per share in the period, compared to $407 million, or 82 cents a share in the year-earlier quarter. Lachlan Murdoch, CEO of Fox Corp., in a statement cited factors including “strong audience growth at Fox News, record political advertising across the company, accelerating revenue growth at Tubi and a compelling start to our fall sports calendar.”
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