WBD - Fox to Report Q3 Earnings: What's in the Offing? | Benzinga
Fox (NASDAQ: FOXA) is set to report third-quarter fiscal 2024 results on May 8.
For the quarter, the Zacks Consensus Estimate for earnings is pegged at $1.16 per share, up 0.9% in the past 30 days. The figure indicates 23.4% growth from the year-ago reported figure.
The consensus mark for revenues is pegged at $3.44 billion, implying a 15.78% decline from the year-ago quarter's reported figure.
The company's earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 71.08%.
Let's see how things have shaped up for this announcement.
Factors to Consider
Fox's third-quarter fiscal 2024 performance is expected to have been negatively impacted by continued weakness in the Cable Network Programming segment. The Zacks Consensus Estimate for the segment's revenues is pegged at $1.474 billion, indicating a year-over-year decline of 6.1%.
Advertisers are contending with higher costs amid rising inflation, which has led to cutbacks in spending on advertising. This is expected to have reflected in the company's ad revenue growth.
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