Financial News
FOX Earnings: What To Look For From FOXA
Cable news and media network Fox (NASDAQ:FOXA) will be reporting earnings tomorrow before the bell. Here’s what you need to know.
FOX met analysts’ revenue expectations last quarter, reporting revenues of $3.09 billion, up 2% year on year. It was a strong quarter for the company, with a solid beat of analysts’ operating margin estimates.
Is FOX a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting FOX’s revenue to grow 5.2% year on year to $3.37 billion, improving from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $1.15 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. FOX has missed Wall Street’s revenue estimates twice over the last two years.
Looking at FOX’s peers in the consumer discretionary segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Rush Street Interactive delivered year-on-year revenue growth of 36.6%, beating analysts’ expectations by 11.9%, and fuboTV reported revenues up 20.3%, topping estimates by 2.5%. Rush Street Interactive’s stock price was unchanged following the results.
Read our full analysis of Rush Street Interactive’s results here and fuboTV’s results here.
Investors in the consumer discretionary segment have had steady hands going into earnings, with share prices up 1.9% on average over the last month. FOX’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $46.50 (compared to the current share price of $41.51).
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