Fox (FOX) Q3 FY2024 earnings: revenue $3.4 billion, down 15.6% on the year
Fox Corp. (FOX) reported revenue of $3.4 billion for Q3 FY2024, the quarter ended 31 March 2024, down 15.6% on the same quarter a year earlier. Net income was $666 million, and diluted earnings per share $1.40. The figures are the company's own, from the 10-Q it filed with the SEC on 8 May 2024.
Revenue
$3.4 billion
-15.6% on the year · -18.6% on the quarter
Q4 FY2022Q3 FY2024
Operating margin
n/a
Q4 FY2022Q3 FY2024
Net income
$666 million
+511.0% on the quarter
Q4 FY2022Q3 FY2024
Diluted EPS
$1.40
+508.7% on the quarter
Q4 FY2022Q3 FY2024
this quarterthe same quarter a year earlierHover a bar for its figure.
Income statement (profit and loss)
$ million
Q3 FY2024
Q2 FY2024
Q3 FY2023
On the quarter
On the year
Last 8 quarters
Revenue
3,447
4,234
4,084
-18.6%
-15.6%
Selling, general and administrative
510
495
528
+3.0%
-3.4%
Interest expense
99.0
119
86.0
-16.8%
+15.1%
Pre-tax income
961
131
-51.0
+633.6%
Income tax
257
16.0
-1.0
+1,506.2%
Effective tax rate
26.7%
12.2%
n/a
Net income
666
109
-54.0
+511.0%
Net margin
19.3%
2.6%
-1.3%
Diluted EPS
$1.40
$0.23
-$0.10
+508.7%
$ 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
Q3 FY2024
Q2 FY2024
Q3 FY2023
On the quarter
On the year
Last 8 quarters
Operating cash flow
1,476
-536
1,568
-5.9%
Capital expenditure
83.0
79.0
84.0
+5.1%
-1.2%
Free cash flow
1,393
-615
1,484
-6.1%
Free cash flow margin
40.4%
-14.5%
36.3%
Cash from investing
-181
-85.0
-97.0
Cash from financing
-1,626
914
-1,383
Depreciation and amortisation
98.0
97.0
106
+1.0%
-7.5%
Share-based compensation
21.0
24.0
23.0
-12.5%
-8.7%
Buybacks
250
250
1,250
0.0%
-80.0%
Dividends paid
130
7.0
136
+1,757.1%
-4.4%
Diluted shares, weighted
475m
482m
521m
-1.5%
-8.8%
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
Q3 FY2024
Q2 FY2024
Q3 FY2023
On the quarter
On the year
Last 8 quarters
Shareholders' equity
10,554
10,252
10,185
+2.9%
+3.6%
Non-controlling interest
111
73.0
70.0
+52.1%
+58.6%
Redeemable equity
260
243
200
+7.0%
+30.0%
Debt
7,196
8,445
7,210
-14.8%
-0.2%
Operating lease liabilities
870
896
930
-2.9%
-6.5%
Other liabilities
2,726
2,937
3,801
-7.2%
-28.3%
Total liabilities and equity
21,717
22,846
22,396
-4.9%
-3.0%
Fixed assets
1,672
1,676
1,675
-0.2%
-0.2%
Goodwill
3,544
3,559
3,557
-0.4%
-0.4%
Intangible assets
3,048
3,061
3,097
-0.4%
-1.6%
Investments
1,250
838
954
+49.2%
+31.0%
Cash and equivalents
3,791
4,122
4,146
-8.0%
-8.6%
Receivables
2,481
3,001
2,741
-17.3%
-9.5%
Inventory
660
1,038
487
-36.4%
+35.5%
Other assets
5,271
5,551
5,739
-5.0%
-8.2%
Total assets
21,717
22,846
22,396
-4.9%
-3.0%
Questions
What was Fox's revenue in Q3 FY2024?
Fox (FOX) reported revenue of $3.4 billion for Q3 FY2024, the quarter ended 31 March 2024, down 15.6% on the same quarter a year earlier.
How much did Fox earn in Q3 FY2024?
Net income for Q3 FY2024 was $666 million, and diluted earnings per share $1.40.
When did Fox report Q3 FY2024 results?
Fox filed its 10-Q for the quarter ended 31 March 2024 with the SEC on 8 May 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 March 2024, filed 8 May 2024: the filing.