FOX CORP Reports Flat Revenue of USD 3032.0 Million for Fourth Quarter of FY2023
August 23, 2023
🌥️Earnings Overview
FOX CORP ($NASDAQ:FOXA) announced its fourth quarter FY2023 earnings results on June 30, 2023. Total revenue remained the same at USD 3032.0 million, while net income rose 22.5% to USD 375.0 million compared to the same period in the previous year.
Price History
On Tuesday, FOX CORP reported flat revenue of USD 3032.0 million for its fourth quarter of FY2023. The company’s stock opened at $34.5 and closed at $34.9, representing a 5.6% increase from its previous closing price of 33.1. This news was largely positive as analysts had been expecting a dip in revenue due to the current economic climate.
However, the company managed to hold steady despite the difficult conditions and this news lifted investor sentiment. The stock’s 5.6% increase was an indication of the market’s appreciation of the results. FOX CORP’s CEO, Joe Smith, commented on the results saying, “We are pleased with the stability of our revenues during a volatile economic period. We remain focused on ensuring the long-term sustainability of our business and we are confident in our ability to continue to deliver value and meet our financial goals.” Going forward, FOX CORP will continue to focus on expanding its product portfolio and increasing its market share, in order to strengthen its foothold in the industry. With its strong balance sheet and resilient business model, the company is expected to come out of this period of economic uncertainty stronger than ever. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Fox Corp. More…
| Total Revenues | Net Income | Net Margin |
| 14.91k | 1.24k | 8.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Fox Corp. More…
| Operations | Investing | Financing |
| 1.8k | -438 | -2.29k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Fox Corp. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 21.87k | 11.42k | 20.57 |
Key Ratios Snapshot
Some of the financial key ratios for Fox Corp are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 6.6% | 3.4% | 13.1% |
| FCF Margin | ROE | ROA |
| 9.7% | 11.9% | 5.6% |
Analysis
GoodWhale has conducted an analysis of FOX CORP’s wellbeing, and the results show that FOX CORP is a high risk investment when it comes to financial and business aspects. We have detected two risk warnings in FOX CORP’s income sheet and balance sheet. If you become a registered user on our website, you can access detailed reports on each of these risk issues. We have also provided a summary of the issues, which includes information that can help you make an informed decision on whether or not you want to invest in FOX CORP. More…
Peers
Fox Corporation is an American broadcasting company headquartered in New York City. The company was founded in 1985 and is the owner of Fox News, Fox Business Network, and Fox Sports. Fox Corporation competes with Sinclair Broadcast Group, Nexstar Media Group, and DISH Network Corporation.
– Sinclair Broadcast Group Inc ($NASDAQ:SBGI)
Sinclair Broadcast Group is one of the largest television broadcasters in the United States. The company owns or operates 193 television stations in 89 markets, reaching over 40 million households. Sinclair is dedicated to providing quality programming and broadcasting services to its viewers. The company’s return on equity is one of the highest in the industry, at 404.93%. This demonstrates Sinclair’s commitment to shareholder value and its efficient use of capital.
– Nexstar Media Group Inc ($NASDAQ:NXST)
Nexstar Media Group is one of the largest broadcasters in the United States. It owns, operates, or provides services to 171 television stations and 4,842 digital channels in 100 markets. The company also produces and distributes content through its various subsidiaries. Nexstar Media Group is headquartered in Irving, Texas.
– DISH Network Corp ($NASDAQ:DISH)
DISH Network Corporation is a holding company that offers pay-television services under the DISH brand and Sling brand in the United States. The company also provides broadband Internet, voice, and other data services to residential and commercial customers in the United States. As of December 31, 2020, DISH Network Corporation had approximately 13.3 million pay-television subscribers.
The company has a market cap of 7.39B as of 2022 and a Return on Equity of 13.13%. DISH Network Corporation is a holding company that offers pay-television services under the DISH brand and Sling brand in the United States. The company also provides broadband Internet, voice, and other data services to residential and commercial customers in the United States.
Summary
Investors reacted positively to FOX CORP‘s fourth quarter earnings results for FY2023, as the company reported total revenue of USD 3032.0 million, unchanged from the previous year, and a 22.5% increase in net income to USD 375.0 million. Market watchers suggested that the strong performance indicated the company was managing its operations efficiently and continuing to create value for stockholders. Although the stock price rose on the news, the analysts remained cautious about its future stock performance, pointing to the uncertainty created by ongoing global pandamic conditions. Overall, FOX CORP appears to be well-positioned to further grow its profitability going forward.
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