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Fox (FOXA) to Report Q4 Earnings: What's in the Offing?
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Fox (FOXA - Free Report) is set to report fourth-quarter fiscal 2023 results on Aug 8.
For the quarter, the Zacks Consensus Estimate for earnings is pegged at 71 cents per share, up by 1 cent in the past 30 days. The figure indicates a 4.05% decline from the year-ago reported figure.
The consensus mark for revenues, pegged at $3.02 billion, implies a 0.40% decrease from the year-ago quarter’s reported figure.
The company’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed once, the average surprise being 2.82%.
Let’s see how things have shaped up for this announcement.
Fox’s fourth-quarter fiscal 2023 performance is expected to have been impacted by slowing affiliate revenue growth. In the last reported quarter, affiliate fees (45.5% of revenues) rose 3.3% to $1.86 billion, with 9% growth in the Television segment.
The Zacks Consensus Estimate for affiliate fee revenues is pegged at $1.67 billion, indicating a year-over-year decline of 2.9%.
Advertisers are contending with rising costs amid record inflation, which has led to cutbacks in spending on advertising. This is expected to have reflected on the company’s ad revenue growth in the to-be-reported quarter.
The Zacks Consensus Estimate for advertising revenues is pegged at $1.08 billion, indicating year-over-year growth of 2.9%. In the last reported quarter, advertising revenues increased 43.5% to $1.88 billion.
In the fiscal fourth quarter, Fox-owned Tubi announced that it has signed an exclusive deal with VICE Media Group to debut eight Tubi Original documentaries. This is expected to have boosted the popularity and viewership in the to-be-reported quarter.
Moreover, Fox’s focus on expanding its digital business segments is likely to have boosted the company’s prospects in the to-be-reported quarter.
What Our Model Indicates
According to the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Fox has an Earnings ESP of -1.41% and a Zacks Rank #4 (Sell) at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some stocks worth considering, as our model shows that these have the right combination of elements to beat on earnings this season.
Nvidia is scheduled to release second-quarter 2023 results on Aug 23. The Zacks Consensus Estimate for NVDA’s earnings is pegged at $2.06 per share, suggesting a jump from the prior-year quarter’s reported figure of 51 cents.
CACI International (CACI - Free Report) has an Earnings ESP of +2.36% and a Zacks Rank #2 at present.
CACI is set to report its fourth-quarter fiscal 2023 results on Aug 9. The Zacks Consensus Estimate for CACI’s earnings is pegged at $4.85 per share, suggesting growth of 6.8% from the prior-year quarter’s reported figure.
Docebo (DCBO - Free Report) has an Earnings ESP of +6.67% and a Zacks Rank #3 at present.
Docebo is set to report its second-quarter fiscal 2023 results on Aug 10. The Zacks Consensus Estimate for DCBO’s earnings is pegged at 8 cents per share. The company reported a loss of 5 cents per share in the year-ago quarter.
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Fox (FOXA) to Report Q4 Earnings: What's in the Offing?
Fox (FOXA - Free Report) is set to report fourth-quarter fiscal 2023 results on Aug 8.
For the quarter, the Zacks Consensus Estimate for earnings is pegged at 71 cents per share, up by 1 cent in the past 30 days. The figure indicates a 4.05% decline from the year-ago reported figure.
The consensus mark for revenues, pegged at $3.02 billion, implies a 0.40% decrease from the year-ago quarter’s reported figure.
The company’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed once, the average surprise being 2.82%.
Let’s see how things have shaped up for this announcement.
Fox Corporation Price and EPS Surprise
Fox Corporation price-eps-surprise | Fox Corporation Quote
Factors to Consider
Fox’s fourth-quarter fiscal 2023 performance is expected to have been impacted by slowing affiliate revenue growth. In the last reported quarter, affiliate fees (45.5% of revenues) rose 3.3% to $1.86 billion, with 9% growth in the Television segment.
The Zacks Consensus Estimate for affiliate fee revenues is pegged at $1.67 billion, indicating a year-over-year decline of 2.9%.
Advertisers are contending with rising costs amid record inflation, which has led to cutbacks in spending on advertising. This is expected to have reflected on the company’s ad revenue growth in the to-be-reported quarter.
The Zacks Consensus Estimate for advertising revenues is pegged at $1.08 billion, indicating year-over-year growth of 2.9%. In the last reported quarter, advertising revenues increased 43.5% to $1.88 billion.
In the fiscal fourth quarter, Fox-owned Tubi announced that it has signed an exclusive deal with VICE Media Group to debut eight Tubi Original documentaries. This is expected to have boosted the popularity and viewership in the to-be-reported quarter.
Moreover, Fox’s focus on expanding its digital business segments is likely to have boosted the company’s prospects in the to-be-reported quarter.
What Our Model Indicates
According to the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Fox has an Earnings ESP of -1.41% and a Zacks Rank #4 (Sell) at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some stocks worth considering, as our model shows that these have the right combination of elements to beat on earnings this season.
NVIDIA (NVDA - Free Report) has an Earnings ESP of +5.56% and sports a Zacks Rank of 1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Nvidia is scheduled to release second-quarter 2023 results on Aug 23. The Zacks Consensus Estimate for NVDA’s earnings is pegged at $2.06 per share, suggesting a jump from the prior-year quarter’s reported figure of 51 cents.
CACI International (CACI - Free Report) has an Earnings ESP of +2.36% and a Zacks Rank #2 at present.
CACI is set to report its fourth-quarter fiscal 2023 results on Aug 9. The Zacks Consensus Estimate for CACI’s earnings is pegged at $4.85 per share, suggesting growth of 6.8% from the prior-year quarter’s reported figure.
Docebo (DCBO - Free Report) has an Earnings ESP of +6.67% and a Zacks Rank #3 at present.
Docebo is set to report its second-quarter fiscal 2023 results on Aug 10. The Zacks Consensus Estimate for DCBO’s earnings is pegged at 8 cents per share. The company reported a loss of 5 cents per share in the year-ago quarter.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.