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Fox Exceeds Analysts' Expectations Following Disney Sale

Fox in its latest quarterly earnings posted $2.5B in revenue, which "exceeded the expectations of analysts as affiliate fees rose for its cable channels while overall advertising slipped a bit." Advertising sunk to $918M from $977M previously. Cable revenue rose to $1.3B from $1.27B, while television rose to $1.18B from $1.12B. Fox "attributed a blip in advertising to lower political sales along with less revenue generated by the FIFA Women's World Cup compared with the men's tournament last year." During the call with analysts, Fox Exec Chair Lachlan Murdoch "talked up Fox Bet, a joint venture with The Stars Group that will roll out NFL betting before the start of the new season next month" (HOLLYWOODREPORTER.com, 8/7).

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