Cable news and media network Fox (NASDAQ: FOXA) will be reporting results this Thursday before the bell. Here’s what investors should know.
FOX beat analysts’ revenue expectations last quarter, reporting revenues of $3.99 billion, down 8.6% year on year. It was a stunning quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.
Is FOX a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting FOX’s revenue to grow 10.9% year on year, improving from the 6.3% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. FOX rarely misses Wall Street’s revenue estimates.
Looking at FOX’s peers in the consumer discretionary segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Paramount posted flat year-on-year revenue, beating analysts’ expectations by 0.7%, and AMC Networks reported a revenue decline of 8.8%, falling short of estimates by 1.2%. AMC Networks traded up 9.2% following the results.
Read our full analysis of Paramount’s results here and AMC Networks’s results here.
Investors in the consumer discretionary segment have had steady hands going into earnings, with share prices up 1.2% on average over the last month. FOX is up 5.1% during the same time and is heading into earnings with an average analyst price target of $70.81 (compared to the current share price of $58.72).
ONE MORE THING: The $21 AI Application Stock Wall Street Forgot. While Wall Street obsesses over who’s building AI, one company is already using it to print money. And nobody’s paying attention.
AI chip stocks trade at ridiculous valuations. This company processes a trillion consumer signals monthly using AI and trades at a third of the price. The gap won’t last. The institutions will figure it out. You need to see this first. Read the FREE Report Before They Notice.
