Fox Corporation beat Wall Street expectations for its second quarter of 2024 on Wednesday, despite its quarterly results being dragged down by a 20% drop in total advertising revenue to $2 billion.
Here are the top-line results:
Net income: $115 million, compared to $321 million in the prior year quarter.
Revenue: $4.23 billion vs $4.18 billion expected by analysts surveyed by Zacks Investment Research.
Adjusted Earnings Per Share: 34 cents vs 9 cents per share expected by analysts surveyed by Zacks Investment Research.
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