Strong politics advertisement led Fox Corp. to an important quarter, with advertising revenue increasing and profits more than doubling compared to a year ago.

Fox reported revenue of $3.56 billion, up 11 percent from the previous year, including advertising revenue of more than $1.3 billion, also up 11 percent. Meanwhile, net profit came in at $832 million, more than double profits of $415 million a year ago. This gain, however, was distorted by the value of Fox’s option on the FanDuel sports betting platform.

The company typically sees the biggest gains in political advertising in its broadcast segment, which includes both the Fox broadcast network and local Fox television stations.

In the company’s television segment, which includes the Fox broadcast network and the Tubi streaming service, revenue was $1.95 billion, driven by the rise in political advertising, as well as ‘to Fox Sports’ coverage of the NFL and football.

In the cable segment, carried by Fox Newsrevenue rose to $1.6 billion, thanks to rate increases and higher ratings.

“Fiscal 2025 is off to a strong start across our portfolio with strong audience growth at Fox News, record political advertising across the company, accelerated revenue growth at Tubi and a compelling start for our fall sports schedule,” Fox CEO Lachlan Murdoch said in a statement. statement. “Collectively, these contributions combined to produce particularly strong financial results during our fiscal first quarter, driven by notable revenue and profit growth. Our strategy and priorities serve our audiences, our advertising and distribution partners, and Fox shareholders.

More to come.