Fox (FOX) Q1 FY2024 earnings: revenue $3.2 billion, up 0.5% on the year
Fox Corp. (FOX) reported revenue of $3.2 billion for Q1 FY2024, the quarter ended 30 September 2023, up 0.5% on the same quarter a year earlier. Net income was $407 million, down 32.7% on the year, and diluted earnings per share $0.82. The figures are the company's own, from the 10-Q it filed with the SEC on 2 November 2023.
Revenue
$3.2 billion
+0.5% on the year · +5.8% on the quarter
Q2 FY2022Q1 FY2024
Operating margin
n/a
Q2 FY2022Q1 FY2024
Net income
$407 million
-32.7% on the year · +8.5% on the quarter
Q2 FY2022Q1 FY2024
Diluted EPS
$0.82
-25.5% on the year · +9.3% on the quarter
Q2 FY2022Q1 FY2024
this quarterthe same quarter a year earlierHover a bar for its figure.
Income statement (profit and loss)
$ million
Q1 FY2024
Q4 FY2023
Q1 FY2023
On the quarter
On the year
Last 8 quarters
Revenue
3,207
3,032
3,192
+5.8%
+0.5%
Selling, general and administrative
480
523
448
-8.2%
+7.1%
Interest expense
91.0
87.0
87.0
+4.6%
+4.6%
Pre-tax income
561
505
845
+11.1%
-33.6%
Income tax
146
136
232
+7.4%
-37.1%
Effective tax rate
26.0%
26.9%
27.5%
Net income
407
375
605
+8.5%
-32.7%
Net margin
12.7%
12.4%
19.0%
Diluted EPS
$0.82
$0.75
$1.10
+9.3%
-25.5%
$ million except per share. Read moreFourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
Q1 FY2024
Q4 FY2023
Q1 FY2023
On the quarter
On the year
Last 8 quarters
Operating cash flow
1.0
493
270
-99.8%
-99.6%
Capital expenditure
71.0
120
74.0
-40.8%
-4.1%
Free cash flow
-70.0
373
196
Free cash flow margin
-2.2%
12.3%
6.1%
Cash from investing
-58.0
-120
-118
Cash from financing
-386
-247
-402
Depreciation and amortisation
96.0
103
99.0
-6.8%
-3.0%
Share-based compensation
24.0
19.0
7.0
+26.3%
+242.9%
Buybacks
250
250
250
0.0%
0.0%
Dividends paid
135
8.0
147
+1,587.5%
-8.2%
Diluted shares, weighted
494m
531m
552m
-7.0%
-10.5%
Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.
Balance sheet
$ million
Q1 FY2024
Q4 FY2023
Q1 FY2023
On the quarter
On the year
Last 8 quarters
Shareholders' equity
10,384
10,378
11,521
+0.1%
-9.9%
Non-controlling interest
67.0
67.0
64.0
0.0%
+4.7%
Redeemable equity
228
213
193
+7.0%
+18.1%
Debt
7,212
7,210
7,207
+0.0%
+0.1%
Operating lease liabilities
907
925
387
-1.9%
+134.4%
Other liabilities
2,851
3,073
3,052
-7.2%
-6.6%
Total liabilities and equity
21,649
21,866
22,424
-1.0%
-3.5%
Fixed assets
1,683
1,708
1,681
-1.5%
+0.1%
Goodwill
3,557
3,559
3,550
-0.1%
+0.2%
Intangible assets
3,072
3,084
3,135
-0.4%
-2.0%
Investments
877
1,034
649
-15.2%
+35.1%
Cash and equivalents
3,829
4,272
4,950
-10.4%
-22.6%
Receivables
2,420
2,177
2,268
+11.2%
+6.7%
Inventory
751
543
1,020
+38.3%
-26.4%
Other assets
5,460
5,489
5,171
-0.5%
+5.6%
Total assets
21,649
21,866
22,424
-1.0%
-3.5%
Questions
What was Fox's revenue in Q1 FY2024?
Fox (FOX) reported revenue of $3.2 billion for Q1 FY2024, the quarter ended 30 September 2023, up 0.5% on the same quarter a year earlier.
How much did Fox earn in Q1 FY2024?
Net income for Q1 FY2024 was $407 million, down 32.7% on the year, and diluted earnings per share $0.82.
When did Fox report Q1 FY2024 results?
Fox filed its 10-Q for the quarter ended 30 September 2023 with the SEC on 2 November 2023.
Each quarter as filed, linked to its filing. Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.
10-Q for the period ended 30 September 2023, filed 2 November 2023: the filing.