• by Wayne Friedman , 9 hours ago

Fox Corp. posted 6% higher advertising revenues to $1.41 billion in its most recent quarter ending in September.

Three areas of growth include advertising for Tubi, its free, ad-supported, streaming platform; Fox News Channel and other new content advertising, and NFL ad inventory pricing on the Fox Television Network.

For Fox cable networks, advertising revenue rose 7% higher to $345 million, with Fox Television Network and its TV stations gaining 6% to $1.067 billion.

Other big legacy TV media companies have seen double digit declines in advertising revenue trends.

Distribution revenues moved up at a slower pace -- 2% higher for its Fox Television Network and TV stations to $821 million, and for its cable TV network group, 3% more to $1.01 billion.

Going forward, however, analysts say the company expects accelerated distribution revenue growth in fiscal year 2027. This revenue will include subscription revenue coming from Fox Nation and the new Fox One broad-based entertainment, sports, and news streaming platform.

Tubi had its first quarter ever of profitability with 27% revenue growth to $324 million, according to MoffettNathanson Research estimates.

Fox Corp. stock closed on Thursday up 4.5% to $58.83, and was 8% higher in after-market trading.