Fox Corporation (NASDAQ:FOX) changed 3.19% to recent value of $24.61. The stock transacted 1939266 shares during most recent day however it has an average volume of 2.00M shares. It spotted trading -36.64% off 52-week high price. On the other end, the stock has been noted 28.65% away from the low price over the last 52-weeks.
On May 06, 2020, Fox Corporation (NASDAQ:FOX) declared financial results for the three months ended March 31, 2020.
The Company reported total quarterly revenues of $3.44 billion, a 25% increase from the $2.75 billion of revenues reported in the prior year quarter, reflecting revenue growth across all operating segments. Advertising revenues increased 44%, led by the broadcast of Super Bowl LIV at the Television segment. Affiliate revenues increased 10%, led by increases at the Television segment due to higher fees from third-party FOX affiliates and higher average rates per subscriber, partially offset by net subscriber declines, at the Company’s owned and operated television stations. The Company also reported a 27% increase in other revenues, led by the operation of the FOX Studios Lot for third parties and the impact of the consolidation of Credible Labs Inc at the Other, Corporate and Eliminations segment.
Quarterly net income decreased to $90 million from the $539 million in the prior year quarter, primarily due to a loss recognized in other, net related to the change in fair value of the Company’s former investment in Roku, as well as higher operating and selling, general and administrative expenses. The increase in selling, general and administrative expenses primarily reflects higher costs related to FOX operating as a standalone public company following the Distribution1 in the prior year quarter. Quarterly net income attributable to Fox Corporation stockholders decreased to $78 million ($0.13 per share) compared to $529 million ($0.85 per share) in the prior year quarter.
Quarterly Adjusted EBITDA2 of $920 million was 20% higher than the prior year quarter, primarily due to higher contributions at the Television and Cable Network Programming segments. Adjusted net income attributable to Fox Corporation stockholders3 was $568 million ($0.93 per share), which was higher than the $471 million ($0.76 per share) adjusted result in the prior year quarter. while earning per share for the next 5-years is expected to reach at 9.20%.
The price moved ahead of -3.24% from the mean of 20 days, -3.75% from mean of 50 days SMA and performed -23.71% from mean of 200 days price. Company’s performance for the week was -11.57%, 10.47% for month and YTD performance remained -34.48%.