Fox Corporation Ad Revenue Slips to $1.2 Billion, but Q3 Earnings Still Beat Wall Street Expectations [Yahoo! Finance]
Warner Bros. Discovery, Inc. - Series A (WBD)
Company Research
Source: Yahoo! Finance
Here are the top-line results: Net income: $704 million, compared to a net loss of $50 million in 2023 Revenue: $3.45 billion vs. $3.44 billion estimated by Zacks Analysts Adjusted Earnings Per Share: $1.09 vs. 98 cents estimated by Zacks Analysts While affiliate fee revenues increased by 4% driven by growth in the company's television segment and cable network programming segment, advertising revenues fell to $1.24 billion compared to $1.88 billion in the prior year quarter. This was primarily attributed to the absence of the prior year broadcast of Super Bowl LVII and fewer NFL games at Fox Sports. While the lack of primary elections this year hurt Fox's political advertising, CEO Lachlan Murdoch said during the earnings call, “We do expect strong political advertising for national and local races,” in the fall of 2024, “which would largely benefit our station group.” The CEO pointed out that Fox News again ended the third quarter as the most watched cable network in to
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- 5/9/24 - Miss
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Sec Filings
- 5/17/24 - Form 8-K
- 5/15/24 - Form 4
- 5/14/24 - Form 8-K
- WBD's page on the SEC website