Fox Corp. , parent of Fox News and the Fox broadcast network, said revenue rose in the latest quarter, as the company expects the return of live sports and entertainment events will continue to propel its growth.
Revenue for the company’s fiscal fourth quarter was $2.89 billion, up 20% from the year-ago period.
Revenue at Fox’s cable programming, which also includes the Fox Business Network and Fox Sports channel as well as Fox News, was $1.4 billion. That is a 10% increase from a year ago, as Fox continued to monetize its digital assets and benefited from the return of live events and sports shows compared with last year.
Revenue in the TV station unit rose 30% from a year ago to $1.45 billion on higher advertising sales as local markets recovered with a swath of the economy reopening from coronavirus-related restrictions a year earlier.
Profit rose to $253 million in the June quarter, or 43 cents a share, from $122 million, or 20 cents a share, a year earlier.
