Aug 5 (Reuters) - Fox Corp ( FOXA ) topped Wall Street

estimates for quarterly revenue and profit on Tuesday, driven by

a surge in advertising, affiliate fee and continued growth at

its free ad-supported streaming service, Tubi.

Shares of Fox rose 1.8% in premarket trading after the

company also announced a $5 billion increase to its share

repurchase authorization.

The owner of Fox News saw revenue from affiliate fee rising

2.6% in the fiscal fourth quarter, driven by growth across both

its cable and television segments.

Fox has benefited from improving advertising trends despite

tough comparisons from major international sports events like

Copa America and the UEFA European Championship in the same

period a year before.

Advertising revenues grew 7.1% in the quarter, primarily

due to continued digital growth led by Tubi, and higher news

ratings and pricing.

Growth at Tubi significantly bolsters Fox by expanding its

reach into the rapidly growing, ad-supported streaming sector,

attracting large numbers of younger, cord-cutting viewers who

are increasingly hard to reach through traditional television

channels.

Building on this growing momentum, Fox is set to launch a

new subscription-based streaming service called Fox One ahead of

the American football season, aiming to reach audiences beyond

its mainstay cable television business.

In June, the company acquired sports-focused streaming

platform and television channel Caliente TV to expand its sports

broadcasting presence in Mexico.

Fox's total revenue rose 6.3% to $3.29 billion in the

fourth quarter, beating estimates of $3.12 billion, according to

data compiled by LSEG.

The company also reported a nearly 7% jump in revenue in

its cable network programming unit to $1.53 billion, at a time

when customers are shifting to digital streaming.

Adjusted profit attributable to Fox's stockholders was

$1.27 per share, compared with estimates of 99 cents.