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Here's What Key Metrics Tell Us About Fox (FOXA) Q3 Earnings
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For the quarter ended March 2023, Fox (FOXA - Free Report) reported revenue of $4.08 billion, up 18.2% over the same period last year. EPS came in at $0.94, compared to $0.81 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $4.05 billion, representing a surprise of +0.92%. The company delivered an EPS surprise of +6.82%, with the consensus EPS estimate being $0.88.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Fox performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Segment Revenues- Television: $2.48 billion versus $2.38 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +36% change.
Segment Revenues- Cable Network Programming: $1.57 billion versus $1.61 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -0.8% change.
Segment Revenues- Other, Corporate and Eliminations: $39 million compared to the $49.08 million average estimate based on four analysts. The reported number represents a change of -25% year over year.
Revenues- Television - Advertising: $1.56 billion versus the three-analyst average estimate of $1.42 billion.
Revenues- Television - Affiliate fee: $764 million compared to the $770.45 million average estimate based on three analysts.
Revenues- Television - Other: $152 million versus $163.35 million estimated by three analysts on average.
Revenues by Component- Affiliate fee: $1.86 billion compared to the $1.89 billion average estimate based on three analysts. The reported number represents a change of +3.3% year over year.
Revenues by Component- Advertising: $1.88 billion versus $1.77 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +43.5% change.
Revenues by Component- Other: $352 million versus $356.14 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +0.3% change.
Revenues- Cable Network Programming - Advertising: $316 million versus the three-analyst average estimate of $352.47 million.
Revenues- Cable Network Programming - Affiliate fee: $1.09 billion versus $1.12 billion estimated by three analysts on average.
Revenues- Cable Network Programming - Other: $161 million versus $145.03 million estimated by three analysts on average.
Shares of Fox have returned -5.2% over the past month versus the Zacks S&P 500 composite's +1.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Here's What Key Metrics Tell Us About Fox (FOXA) Q3 Earnings
For the quarter ended March 2023, Fox (FOXA - Free Report) reported revenue of $4.08 billion, up 18.2% over the same period last year. EPS came in at $0.94, compared to $0.81 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $4.05 billion, representing a surprise of +0.92%. The company delivered an EPS surprise of +6.82%, with the consensus EPS estimate being $0.88.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Fox performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Segment Revenues- Television: $2.48 billion versus $2.38 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +36% change.
- Segment Revenues- Cable Network Programming: $1.57 billion versus $1.61 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -0.8% change.
- Segment Revenues- Other, Corporate and Eliminations: $39 million compared to the $49.08 million average estimate based on four analysts. The reported number represents a change of -25% year over year.
- Revenues- Television - Advertising: $1.56 billion versus the three-analyst average estimate of $1.42 billion.
- Revenues- Television - Affiliate fee: $764 million compared to the $770.45 million average estimate based on three analysts.
- Revenues- Television - Other: $152 million versus $163.35 million estimated by three analysts on average.
- Revenues by Component- Affiliate fee: $1.86 billion compared to the $1.89 billion average estimate based on three analysts. The reported number represents a change of +3.3% year over year.
- Revenues by Component- Advertising: $1.88 billion versus $1.77 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +43.5% change.
- Revenues by Component- Other: $352 million versus $356.14 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +0.3% change.
- Revenues- Cable Network Programming - Advertising: $316 million versus the three-analyst average estimate of $352.47 million.
- Revenues- Cable Network Programming - Affiliate fee: $1.09 billion versus $1.12 billion estimated by three analysts on average.
- Revenues- Cable Network Programming - Other: $161 million versus $145.03 million estimated by three analysts on average.
View all Key Company Metrics for Fox here>>>Shares of Fox have returned -5.2% over the past month versus the Zacks S&P 500 composite's +1.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.