Company: FOX
Filing Date: 2025-02-04
Form Type: 10-Q
Source: 0001628280-25-003592
Chunk: 32

Company: Fox Corp
Filing Date: 2025-02-04
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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 except %)Better/(Worse)Better/(Worse)RevenuesAffiliate fee$1,900 $1,787 $113 6 %$3,743 $3,527 $216 6 %Advertising2,422 2,002 420 21 %3,751 3,202 549 17 %Other756 445 311 70 %1,148 712 436 61 %Total revenues5,078 4,234 844 20 %8,642 7,441 1,201 16 %Operating expenses(3,776)(3,393)(383)(11)%(5,794)(5,255)(539)(10)%Selling, general and administrative(525)(495)(30)(6)%(1,027)(975)(52)(5)%Depreciation and amortization(97)(97)— — %(188)(193)5 3 %Restructuring, impairment and other corporate matters(170)(18)(152)**(196)(9)(187)**Equity earnings of affiliates4 1 3 **7 2 5 **Interest expense, net(80)(72)(8)(11)%(130)(114)(16)(14)%Non-operating other, net81 (29)110 **314 (205)519 **Income before income tax expense515 131 384 **1,628 692 936 **Income tax expense(127)(16)(111)**(408)(162)(246)**Net income388 115 273 **1,220 530 690 **Less: Net income attributable to noncontrolling interests(15)(6)(9)**(20)(14)(6)(43)%Net income attributable to Fox Corporation stockholders$373 $109 $264 **$1,200 $516 $684 ****not meaningful

Overview

For the three months ended December 31, 2024 and 2023

The Company’s revenues increased $844 million or 20% for the three months ended December 31, 2024, as compared to the corresponding period of fiscal 2024, due to higher affiliate fee, advertising and other revenues. The increase of $113 million or 6% in affiliate fee revenue was primarily due to the impact of higher 

21

average rates per subscriber and higher fees received from television stations that are