The news: Record political ad spending, strong sports viewership, and streaming growth powered increased revenues and profits in Fox Corp's latest quarter. 

By the numbers:

• Total revenues: $3.56 billion, an 11% increase YoY, beating estimates of $3.37 billion and considerably better than the previous quarter’s 2% gain.
• Advertising revenues: $1.33 billion, up 11% YoY, fueled by political ad spending and Tubi’s growth.