Fox beats profit estimates as ad market gains momentum

A headline for a story on the health of U.S. President Joe Biden is displayed at the Fox News headquarters in New York City, U.S. March 4, 2023. REUTERS/Chris Helgren/File Phototopped Wall Street expectations for quarterly profit on Tuesday as the Rupert Murdoch-controlled company benefited from an industry-wide uptick in the advertising market, sending the broadcaster's shares up nearly 5%.

Fox's concentrated portfolio of news and sports positions it well compared with peers that have greater general entertainment exposure, according to analysts. Fox reported advertising revenue of $1.01 billion, beating expectations of $985.7 million, according to Visible Alpha. Spending for political ads appears to have started early and is greater than previous election cycles, analysts have said.

Österreich Neuesten Nachrichten, Österreich Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Rivian earnings: Wall Street eyes $1 billion in Q2 revenue for EV makerWall Street is looking for Rivian to hit $1 billion in quarterly revenue and keep a lid on costs.
Herkunft: MarketWatch - 🏆 3. / 97 Weiterlesen »

U.S. stocks open higher as Wall Street comes off its worst week since MarchU.S. stock indexes opened higher on Monday morning after the S&P 500 and Nasdaq Composite closed out their worst weekly performance since March. Investors’...
Herkunft: MarketWatch - 🏆 3. / 97 Weiterlesen »

UBS rejigs investment bank in bid to better compete with Wall StreetUBS announced an overhaul of its investment banking division on Monday, including naming the unit's M&A chiefs, marking a key step in integrating Credit Suisse.
Herkunft: Reuters - 🏆 2. / 97 Weiterlesen »