Stock Story -
Cable news and media network Fox (NASDAQ:FOXA) will be reporting results tomorrow before the bell. Here's what you need to know.
FOX met analysts' revenue expectations last quarter, reporting revenues of $3.45 billion, down 15.6% year on year. It was a mixed quarter for the company, with a decent beat of analysts' earnings estimates but a miss of analysts' Affiliate revenue estimates.
Is FOX a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting FOX's revenue to grow 2.2% year on year to $3.10 billion, improving from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $0.80 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. FOX has missed Wall Street's revenue estimates twice over the last two years.
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. Rush Street Interactive delivered year-on-year revenue growth of 33.5%, beating analysts' expectations by 9.4%, and Life Time reported revenues up 18.9%, topping estimates by 5.2%. Rush Street Interactive traded up 7.9% following the results while Life Time was also up 7.5%.
Read the full analysis of Rush Street Interactive's and Life Time's results on StockStory.
There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 3.3% on average over the last month. FOX is up 7.6% during the same time and is heading into earnings with an average analyst price target of $41.5 (compared to the current share price of $37.13).
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