FOX’s linear TV outlets increased their revenue due to political ads, in terms of volume and rate increases.
The U.S. presidential election has made FOX a winner with a 11 percent increase for its broadcast TV network, and a 15 percent increase for its cable networks. The group posted a profit of $827 million (compared with $407 million a year earlier) with revenues of $3.56 billion.
Revenue growth was also recorded at Tubi, its free streaming platform. FOX cable channels include FOX Sports, FOX Business, and FOX News.
Fox Corp.’s shares went up nearly 3 percent after the company’s first-quarter revenue beat Wall Street expectations on Monday, November 4.
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