STOCKS | Fox Reports Higher Profit as World Cup Boosts Advertising Revenue

Fox Corp.'s fiscal first-quarter profit and revenue both rose, driven by World Cup-related advertising sales. According to Sina Finance, the company reported net income of $957 million, or $2.20 per share, compared with $609 million, or $1.32 per share, in the year-earlier quarter. FactSet data showed adjusted earnings of $2.54 per share, versus analysts' consensus estimate of $2.08. Revenue increased 22% year over year to $4.57 billion, above market expectations of $4.32 billion. Advertising revenue jumped 47%, driven by the World Cup, political ad spending, and its Tubi streaming platform. Distribution revenue also rose 9%, attributed to expansion in its cable network and television business segments.