Fox reported revenues of $3.56 billion, up 11 percent from a year earlier, including advertising revenues of more than $1.3 billion, also up 11 percent. Meanwhile, net income was $832 million, more than double the profits a year ago of $415 million. That gain however was skewed by the value of Fox’s option in sports betting platform FanDuel.
The company typically sees the biggest political advertising gains in its broadcast segment, which includes both the Fox broadcast network and the Fox local TV stations.In the company’s television segment, which includes the Fox broadcast network and the streaming service Tubi, revenues were $1.95 billion, thanks to the surge in political advertising, as well as NFL and soccer coverage at Fox Sports.
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