(fxcue news) - Media firm Fox Corp. reported Monday weak earnings in its third quarter on higher expenses, while revenues were higher, benefited mainly by advertising revenue growth of 65 percent, primarily due to the impact of Super Bowl LIX. Adjusted earnings and top line beat market estimates. In pre-market activity on the Nasdaq, the FOX shares were gaining around 3.8 percent to trade at $48.48. Executive Chair and Chief Executive Officer Lachlan Murdoch said, "Our strong fiscal third quarter underscored the central role FOX plays in informing and entertaining America, and our financial performance, highlighted by record free cash flow, once again illustrates the strength of the FOX platform. Whether it is our market leading coverage of a sustained, active news cycle or our broadcast of a record-breaking Super Bowl, we deliver for our audiences, advertisers and distribution partners." The company noted that the increase in expenses was primarily due to higher sports programming rights amortization and production costs driven by the broadcast of Super Bowl LIX and higher digital content and marketing costs. In the third quarter, the company's net earnings attributable to stockholders came in at $346 million or $0.75 per share, compared to $666 million or $1.40 per share last year. Adjusted earnings were $507 million or $1.10 per share for the period as compared to the $520 million or $1.09 per share reported in the prior year quarter. Analysts on average had expected the company to earn $0.90 per share. Analysts' estimates typically exclude special items. Quarterly Adjusted EBITDA was $856 million, as compared to the $891 million in the prior year, as the revenue increase was more than offset by higher expenses. The company's revenue for the period, however, climbed 26.8 percent to $4.371 billion from $3.447 billion last year. The Street expected revenues of $4.17 billion for the quarter. Affiliate fee revenues increased 3 percent, driven by 4 percent growth at the Television segment and 3 percent growth at the Cable Network Programming segment. Advertising revenues increased 65 percent, primarily due to the impact of Super Bowl LIX, continued digital growth led by the Tubi AVOD service, and stronger news ratings and pricing. Other revenues increased 20 percent, primarily due to higher sports sublicensing revenues. Cable Network Programming's revenues of $1.64 billion grew 11 percent with 3 percent rise in affiliate fee revenues and 26 percent jump in advertising revenues. Television's revenues of $2.70 billion climbed 40 percent with 77 percent growth in advertising revenues, primarily due to the impact of Super Bowl LIX, and continued digital growth led by the Tubi AVOD service. Affiliate fee revenues increased 4 percent.. For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.