Fox Corporation is conducting a $1.5 billion stock buyback.

US-based media giant Fox Corporation has announced its financial results for the quarter ending in September 2024. The company increased its revenue by 5 percent, reaching $3.74 billion (approximately 158 billion TL). This figure surpassed the market analysts' forecast of $3.57 billion (approximately 150 billion TL) and demonstrated the company's strong performance.

One of the driving factors behind the growth figures was the significant audience increase on Fox's free streaming platform Tubi. Additionally, the expanding viewership of NFL broadcasts also played an important role in the company's revenue growth. In a competitive media landscape, Fox's achievement has drawn attention to the platform.

The company has also decided to bring satisfaction to its investors by initiating a share buyback program. It announced a new share buyback program worth $1.5 billion (approximately 63 billion TL). This initiative aims to increase the company's market value and provide more value to its shareholders.

Interestingly, it should be noted that Tubi became profitable for the first time in this quarter. The company attributes this successful period to the growing interest of its users and the quality of the content offered on the platform.

The positive performance of Fox Corporation in this quarter, along with the share buyback program, is being closely monitored by investors and analysts. The effectiveness of such strategic initiatives on the company's growth objectives in the future continues to be a matter of curiosity.