For its fiscal third-quarter period, ad revenues rose 3.6% to $1.9 billion for all of Fox -- with U.S. cable TV networks witnessing a 17% hike in advertising revenues.
Fox says its strong cable results came from higher ratings and pricing at Fox News Channel, as well as more National Basketball Association games played for its regional sports networks. It also credits the consolidation of National Geographic non-channels’ businesses.
Fox’s Television unit -- its Fox Broadcast Network and its TV stations -- posted 5% higher overall revenues due to strong TV station results, retrans consent revenue growth and higher ad revenues from improved political spending.
It did not disclose specific advertising results for its Fox network.
Overall, Fox’s affiliate fees grew 7% to $2.9 billion.
Fox’s Filmed Entertainment revenues unit dipped slightly to $2.32 billion from $2.39 million.
This came from lower worldwide home entertainment,TV production revenues and negative impact from foreign exchange rates -- all this despite strong worldwide theatrical revenues for “Deadpool,” grossing more than $760 million.
Company revenue grew 6% to $7.23 billion with net income dipping to $928 million from $1.04 billion.
Fox’s stock price closed slightly down, 0.5% to $29.80 on Wednesday. Then it rose sharply after its earnings release in aftermarket activity -- only to fall again.