11:03 AM EDT, 05/12/2025 (MT Newswires) -- Fox (FOX, FOXA) reported a surprise increase in its fiscal third-quarter earnings on Monday, while the media giant's revenue topped market estimates as the Super Bowl LIX drove sharp gains in its advertising sales.

The company posted adjusted earnings of $1.10 per share for the March quarter, up from $1.09 the year before, defying Wall Street's estimate for a decline to $0.91. Revenue climbed 27% year over year to $4.37 billion, surpassing the FactSet-polled consensus for $4.18 billion.

Fox's class A and B shares were up around 4.3% each in Monday trade.

"We delivered across the board milestones during the third quarter," Chief Executive Lachlan Murdoch said on an earnings call, according to a FactSet transcript. "While we recognize the commentary around the macro environment, we have seen no impact to our business."

Advertising revenue surged 65% to $2.04 billion, mainly driven by the impact of the Super Bowl LIX, continued growth of the company's Tubi advertising video-on-demand service, and robust news pricing, according to Fox. The Super Bowl event generated more than $800 million of gross advertising revenue, with 128 million views across the company's platforms, Murdoch said.

Affiliate fee revenue increased to $2.01 billion from $1.94 billion in the prior-year quarter, amid gains in the television and cable network programming segments. The company saw "higher rates and improved subscriber declines for the third consecutive quarter" in the period, according to Murdoch.

Other revenue inclined 20%, primarily due to higher sports sublicensing revenue, the company said.

Revenue in the television division jumped 40% to $2.7 billion, while cable network programming rose 11% to $1.64 billion. Advertising revenue in cable and television gained 26% and 77%, respectively.

In a separate statement, Fox unveiled its direct-to-consumer streaming service, Fox One. The platform, which will showcase all of the company's news, sports and entertainment content, is on track to launch before the football season this fall, Murdoch said on the earnings call.

Price: 48.58, Change: +1.86, Percent Change: +3.98