Fox Corporation Class B (NASDAQ:FOX) shares surged 7.35% during pre-market trading on Monday, following the release of the company's third-quarter financial results.
The significant price movement comes after Fox reported quarterly earnings of $1.32 per share, which exceeded analyst consensus estimates of $1.12 by 17.86%. The company also reported quarterly sales of $3.994 billion, beating the $3.795 billion estimate by 5.26%. This positive earnings surprise appears to have driven investor optimism, leading to the substantial pre-market gain.
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