Yahoo Finance Compared to Estimates, Fox (FOXA) Q3 Earnings: A Look at Key Metrics
Fox (FOXA) reported $3.45 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 15.6%. EPS of $1.09 for the same period compares to $0.94 a year ago.
The reported revenue represents a surprise of +0.22% over the Zacks Consensus Estimate of $3.44 billion. With the consensus EPS estimate being $0.98, the EPS surprise was +11.22%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Fox performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Segment Revenues- Cable Network Programming: $1.47 billion compared to the $1.47 billion average estimate based on three analysts. The reported number represents a change of -6.2% year over year.
Segment Revenues- Television: $1.94 billion versus the three-analyst average estimate of $1.94 billion. The reported number represents a year-over-year change of -21.7%.
Segment Revenues- Other, Corporate and Eliminations: $37 million compared to the $39.59 million average estimate based on three analysts. The reported number represents a change of -5.1% year over year.
Revenues- Cable Network Programming - Affiliate fee: $1.10 billion versus $1.10 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +1% change.
Revenues- Cable Network Programming - Advertising: $296 million versus $299.27 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -6.3% change.
Revenues by Component- Other: $274 million versus $262.72 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -22.2% change.
Revenues- Television - Advertising: $939 million versus the three-analyst average estimate of $957.33 million. The reported number represents a year-over-year change of -39.8%.
Revenues- Television - Affiliate fee: $834 million compared to the $827.31 million average estimate based on three analysts. The reported number represents a change of +9.2% year over year.
Revenues- Television - Other: $165 million versus $151.67 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +8.6% change.
Revenues by Component- Affiliate fee: $1.94 billion compared to the $1.93 billion average estimate based on three analysts. The reported number represents a change of +4.4% year over year.
Revenues by Component- Advertising: $1.24 billion versus $1.26 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -34.1% change.
Revenues- Cable Network Programming - Other: $72 million compared to the $71.46 million average estimate based on three analysts. The reported number represents a change of -55.3% year over year.
View all Key Company Metrics for Fox here>>>
Shares of Fox have returned +3.1% over the past month versus the Zacks S&P 500 composite's -0.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Fox Corporation (FOXA) : Free Stock Analysis Report
