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Fox set to report steady Q3 earnings as NFL negotiations loom [Yahoo! Finance]
Last fox corporation - class a earnings: 2/5 04:05 pm
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Fox Corp (NASDAQ:FOXA) is expected to report steady results for the fiscal third quarter, though attention is increasingly turning to the looming renewal of its NFL media rights, according to analysts at Bank of America. The firm wrote that it anticipates fiscal third-quarter performance will “largely reflect a continuation of underlying trends,” supported by Fox's concentration in live programming such as news and sports, which it views as better positioned than entertainment within the traditional TV bundle. Bank of America modestly raised its estimates, now forecasting revenue of $3.79 billion and OIBDA of $743 million, up from prior projections, citing stronger cable advertising. The analysts expect cable revenue to grow about 1%, while television revenue is projected to decline 22% due to comparisons with last year's Super Bowl. While Fox has a history of outperforming expectations, the analysts wrote that investor focus is likely to shift toward the upcoming NFL rights
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