Fox Corporation Q3 revenue rises as streaming unit Tubi and NFL ad sales surge

Fox Corporation announced quarterly revenue of US$3.74 billion (+5 % y-o-y), above consensus of US$3.57 billion, powered by a 27 % revenue jump at its free streaming platform Tubi and strong NFL viewership (average ~22 million). Advertising revenue increased 6 % to US$3.38 billion, and the company announced a US$1.5 billion accelerated share-buyback beginning Oct 31 (in addition to the existing US$6.85 billion authorisation). Cable network affiliate fees rose ~3 % and the company flagged further investment in its Fox One subscription bundle via partnerships.