Fox (FOX) Q2 FY2024 earnings: revenue $4.2 billion, down 8.1% on the year
Fox Corp. (FOX) reported revenue of $4.2 billion for Q2 FY2024, the quarter ended 31 December 2023, down 8.1% on the same quarter a year earlier. Net income was $109 million, down 65.2% on the year, and diluted earnings per share $0.23. The figures are the company's own, from the 10-Q it filed with the SEC on 7 February 2024.
Revenue
$4.2 billion
-8.1% on the year · +32.0% on the quarter
Q3 FY2022Q2 FY2024
Operating margin
n/a
Q3 FY2022Q2 FY2024
Net income
$109 million
-65.2% on the year · -73.2% on the quarter
Q3 FY2022Q2 FY2024
Diluted EPS
$0.23
-60.3% on the year · -72.0% on the quarter
Q3 FY2022Q2 FY2024
this quarterthe same quarter a year earlierHover a bar for its figure.
Income statement (profit and loss)
$ million
Q2 FY2024
Q1 FY2024
Q2 FY2023
On the quarter
On the year
Last 8 quarters
Revenue
4,234
3,207
4,605
+32.0%
-8.1%
Selling, general and administrative
495
480
550
+3.1%
-10.0%
Interest expense
119
91.0
89.0
+30.8%
+33.7%
Pre-tax income
131
561
437
-76.6%
-70.0%
Income tax
16.0
146
116
-89.0%
-86.2%
Effective tax rate
12.2%
26.0%
26.5%
Net income
109
407
313
-73.2%
-65.2%
Net margin
2.6%
12.7%
6.8%
Diluted EPS
$0.23
$0.82
$0.58
-72.0%
-60.3%
$ million except per share. Read moreFree 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
Q2 FY2024
Q1 FY2024
Q2 FY2023
On the quarter
On the year
Last 8 quarters
Operating cash flow
-536
1.0
-531
Capital expenditure
79.0
71.0
79.0
+11.3%
0.0%
Free cash flow
-615
-70.0
-610
Free cash flow margin
-14.5%
-2.2%
-13.2%
Cash from investing
-85.0
-58.0
-103
Cash from financing
914
-386
-258
Depreciation and amortisation
97.0
96.0
103
+1.0%
-5.8%
Share-based compensation
24.0
24.0
25.0
0.0%
-4.0%
Buybacks
250
250
250
0.0%
0.0%
Dividends paid
7.0
135
8.0
-94.8%
-12.5%
Diluted shares, weighted
482m
494m
543m
-2.4%
-11.2%
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
Q2 FY2024
Q1 FY2024
Q2 FY2023
On the quarter
On the year
Last 8 quarters
Shareholders' equity
10,252
10,384
11,607
-1.3%
-11.7%
Non-controlling interest
73.0
67.0
69.0
+9.0%
+5.8%
Redeemable equity
243
228
196
+6.6%
+24.0%
Debt
8,445
7,212
7,208
+17.1%
+17.2%
Operating lease liabilities
896
907
900
-1.2%
-0.4%
Other liabilities
2,937
2,851
3,146
+3.0%
-6.6%
Total liabilities and equity
22,846
21,649
23,126
+5.5%
-1.2%
Fixed assets
1,676
1,683
1,680
-0.4%
-0.2%
Goodwill
3,559
3,557
3,556
+0.1%
+0.1%
Intangible assets
3,061
3,072
3,114
-0.4%
-1.7%
Investments
838
877
772
-4.4%
+8.5%
Cash and equivalents
4,122
3,829
4,058
+7.7%
+1.6%
Receivables
3,001
2,420
3,004
+24.0%
-0.1%
Inventory
1,038
751
1,300
+38.2%
-20.2%
Other assets
5,551
5,460
5,642
+1.7%
-1.6%
Total assets
22,846
21,649
23,126
+5.5%
-1.2%
Questions
What was Fox's revenue in Q2 FY2024?
Fox (FOX) reported revenue of $4.2 billion for Q2 FY2024, the quarter ended 31 December 2023, down 8.1% on the same quarter a year earlier.
How much did Fox earn in Q2 FY2024?
Net income for Q2 FY2024 was $109 million, down 65.2% on the year, and diluted earnings per share $0.23.
When did Fox report Q2 FY2024 results?
Fox filed its 10-Q for the quarter ended 31 December 2023 with the SEC on 7 February 2024.
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 31 December 2023, filed 7 February 2024: the filing.