\n\tFox Corp. said the absence of a Super Bowl broadcast in its third fiscal quarter led to a downturn in profit and revenue, even as its cable operations showed increases in key areas.<\/p>\n
\n\tThe owner of Fox News<\/a> Channel and the Fox broadcast network said revenue fell to $3.99 billion during the period, compared to the $4.37 billion in the year-earlier quarter. And while distribution revenue rose 3% thanks to activity from the company\u2019s cable operations, none of it could truly offset comparisons with last year\u2019s period. Advertising revenue came to $1.56 billion, compared to the $2.04 billion in last year\u2019s period.<\/p>\n \n\tFox said last year that its telecast of Super Bowl LIX generated $800 million in gross revenue.<\/a> The Super Bowl overhang was expected, said Fox CEO Lachlan Murdoch<\/a> during an investor call Monday, and ad revenue in the third quarter would have grown by \u201cdouble digits\u201d without the comparison.<\/p>\n \n\tIn prepared remarks, Murdoch put a spotlight on another massive sporting event that Fox had in the offing. \u201cWe are proud to be bringing the world\u2019s biggest sporting event to American homes with the FIFA Men\u2019s World Cup hosted here in North America across June and July,\u201d he siad. \u201cMeanwhile we remain steadfast in our commitment to delivering long-term shareholder value supported by our strong balance sheet.\u201d<\/p>\n \n\tThe company said net income attributable to shareholders totaled $166 million, or 38 cents per share, compared with $346 million, or 75 cents a share, in the year-earlier period.<\/p>\n \n\tThe lack of a Super Bowl telecast was felt most heavily in the company\u2019s traditional TV operations, where revenue fell to $2.2 billion, compared with $2.7 billion a year earlier. Ad revenue fell to $1.17 billion, compared with $1.66 billion a year ago, with Fox noting that the absence of Super Bowl revenue was partially offset by the broadcast of an additional NFL Wild Card game. Distribution revenue rose to $858 million, compared with $870 million.<\/p>\n \n\tThe company\u2019s cable properties saw more robust activity. Revenue from cable operations rose 65, or $105 million, to $.174 billion. Distribution revenue rose 5%, or $64 million, while ad revenue rose 5% , or $18 million, largely due to better pricing at Fox News and its related portfolio.<\/p>\n","protected":false},"excerpt":{"rendered":"Fox Corp. said the absence of a Super Bowl broadcast in its third fiscal quarter led to a…\n","protected":false},"author":2,"featured_media":479190,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[265],"tags":[18,117,37897,24985,19,17,37899,89091,128],"class_list":{"0":"post-479189","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-tv","8":"tag-eire","9":"tag-entertainment","10":"tag-fox-corporation","11":"tag-fox-news","12":"tag-ie","13":"tag-ireland","14":"tag-lachlan-murdoch","15":"tag-media-earnings","16":"tag-tv"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/479189","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=479189"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/479189\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/479190"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=479189"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=479189"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=479189"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}