Fox Corp surpassed quarterly revenue and profit expectations on Tuesday, as the U.S. broadcaster benefited from an election-driven advertising surge on its news network and more commercials on its Tubi streaming service.

Fox reported a blowout earnings report Tuesday, with the 2024 presidential election and a stacked live sports schedule seeing quarterly revenue rise by 20 percent year over year to $5.1 billion and net income more than doubling to $388 million.

Fox Corp surpassed quarterly revenue and profit expectations on Tuesday, driven by higher political advertising on its news network and an uptick in commercials on its Tubi streaming service. Shares of the New York-based company were up 4% before the bell.