Fox Corporation (NASDAQ:FOX) Q1 2025 Earnings Conference Call November 4, 2024 8:00 AM ET

Company Participants

Gabrielle Brown - EVP & Chief Investor Relations Officer
Lachlan Murdoch - Executive Chair & CEO
Steve Tomsic - CFO

Conference Call Participants

Michael Morris - Guggenheim Partners
Benjamin Swinburne - Morgan Stanley
Robert Fishman - MoffettNathanson
John Hodulik - UBS
Jessica Reif Ehrlich Cohen - Bank of America
Michael Ng - Goldman Sachs

Operator

Ladies and gentlemen, thank you for standing by. Welcome to the Fox Corporation First Quarter Fiscal Year 2025 Earnings Conference Call. At this time, all participants are in listen-only mode. Later, we will conduct a question-and-answer session. [Operator Instructions].

I'll now turn the conference over to Chief Investor Relations Officer, Ms. Gabrielle Brown. Please go ahead, Ms. Brown.

Gabrielle Brown

Thank you, operator, and we apologize for the technical difficulties. But good morning and welcome to our fiscal 2025 first quarter earnings call. Joining me on the call today are Lachlan Murdoch, Executive Chair and Chief Executive Officer; John Nallen, Chief Operating Officer; and Steve Tomsic, our Chief Financial Officer. First, Lachlan and Steve will give some prepared remarks on the most recent quarter, and then we'll take questions from the investment community.

Please note that this call may include forward-looking statements regarding Fox Corporation's financial performance and operating results. These statements are based on management's current expectations and actual results could differ from what is stated as a result of certain factors identified on today's call and in the company's SEC filings.

Additionally, this call will include certain non-GAAP financial measures, including adjusted EBITDA or EBITDA as we refer to it on this call. Reconciliations of non-GAAP financial measures are included in our earnings release and our SEC filings, which are available in the Investor Relations section of our website.

And with that, I'm pleased to turn the call over to Lachlan.

Lachlan Murdoch

Thank you, Gabby, and thank you all for joining us this morning to discuss our fiscal first quarter earnings. Today, we again reported strong operating and financial results. We've had a great quarter and a great start to our fiscal year. Our EBITDA of over $1 billion was up 21% on the back of sustained revenue growth, which this quarter reached 11%, demonstrating the power of our content and brands and the ability of our strategy to consistently deliver outstanding results.

In the month of October alone, Fox Networks reached over 145 million people. During this election cycle, Americans have turned to FOX News more than any other service to cover the key issues and events leading up to tomorrow's election. Among those events were FOX News hosted programming that in and of themselves made news and clearly resonated with viewers.