Fox Corporation said fourth-quarter net income slipped due to a change in value of its investment in the online-gambling company Flutter as the company grappled with challenges in capturing advertising and saw a boost in revenue flow from distribution.
Sports proved to be a key driver of results in the period, particularly Fox’s broadcasts of the UEFA European Championship and CONMEBOL Copa América.
Earnings came to $319 million, or 68 cents per share, compared with $375 million, or 74 cents per share, in the year-earlier period.
More to come…
Source Agencies
