Fox Corporation's (FOX) Q3 2022 Earnings Call Transcript

For the period ending March 31, 2022

May 10, 2022 8:30 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Ladies and gentlemen, thank you for standing by. Welcome to the Fox Corporation Third Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. Later we’ll conduct a question and answer session. I would like to emphasize that that functionality for the question and answer queue will be given at that time. [Operator Instructions] And as a reminder, this conference is being recorded.

I will now turn the conference over to our Chief Investor Relations Officer, Mr. Joe Dorrego. Please go ahead, sir.

Joe Dorrego

Thank you, Operator. Good morning and welcome to our Fiscal 2022 Third 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

Thanks, Joe and good morning, everyone. Thank you for joining us on this call. I don’t know about everyone else but I often find early mornings after a coffee or two or three to be good time to reflect on the progress we are making and to plan the days or weeks ahead.

Sitting here on the FOX lot with my colleagues, I can recall our investors that when we saw all of you or most of you in person and kicked off the new FOX, now already a few years ago, some of you’ve asked then correctly, could the new streamlined FOX aggressively grow its top-line revenues? And what we committed to you then that we would add $1 billion of television distribution revenue by calendar of 2022, we all knew that proof would be in the pudding.