Fox Corp. revenue increased to $2.72 billion in its most recent quarter, up 2% year-over-year. A $462 million payment from Disney for a previous sale of cable and studio assets helped boost income to $1.11 billion, up from $499 million the same quarter last year.
A thinner slate of NFL and college football games, however, contributed to Fox’s broadcast network ad revenue falling 15% year-over-year. Renewed ad spending and a now-full sports schedule are expected to reverse the trend in the upcoming quarter.
CEO Lachlan Murdoch said Fox has an option to buy a piece of FanDuel, which is owned by Flutter Entertainment. Fox and Flutter are partners in the Fox Bet sports betting platform.