Fox’s Q4 Earnings Beats Wall Street Forecasts, Despite World Cup and Political Ad Revenue Dip

Fox beat Wall Street expectations for its fiscal fourth quarter of 2019 on Wednesday, it’s first full earnings period as a standalone company. The company posted an adjusted diluted earnings per share (EPS) of $0.62 and $2.51 billion in revenue for the three-month period ending in June. Wall Street had forecast earnings of $0.59 EPS and $2.47 billion in revenue, per a Yahoo Finance compilation of media analysts. During its fiscal third quarter, the first since registering as a standalone company following the Disney sale, Fox posted an EPS of $0.76 and $2.75 billion in revenue. The increase in revenues — up from $2.39 in the year-ago quarter — was primarily attributable to affiliate revenue growth of 7%, driven by an 18% increase at the television segment and a 78% increase in other revenues, mostly due to higher digital content licensing revenues at the television segment. Also Read: Fox Chief Charlie Collier Compares WWE Ratings Risk to Network's NFL Deal in the '90s However, some of that revenue growth was offset by a 6% decline in advertising revenue due to fewer FIFA Women’s World Cup matches compared to last summer’s men’s tournament, and lower political revenues. For the full fiscal...