Will this traffic growth lead to an upward revision of FOX's revenue guidance for the current fiscal year?

Fundamental view: July’s 92 million unique‑visitor count – the highest ever for FOX News Digital and ahead of CNN.com and CBSNews.com – signals a strong digital‑audience tailwind that should translate into higher CPMs and stronger program‑matic and branded‑content revenue. The digital‑media segment now accounts for a growing share of FOX’s overall earnings, and a sustained traffic lift typically precedes an upward revision of revenue guidance, especially when ad‑spend trends remain supportive. However, the final guidance will still be tempered by broader macro factors (advertiser budget constraints, inflation‑adjusted ad rates) and the company’s cost structure (content production, distribution fees). In the near‑term, the most likely catalyst for an official upward revision is the upcoming quarterly earnings release; if management cites “record digital traffic” as a key driver, a modest uplift (≈ 2‑3 % YoY) in the FY‑24 revenue outlook is plausible.

Trading implication: The stock has already priced in some optimism – it’s trading near recent highs but still below the 200‑day SMA, with a bullish 20‑day EMA crossover and RSI around 62. A breakout above the prior high (≈ $33) with volume confirmation could signal market acceptance of a potential guidance lift, making a short‑term long position attractive (target 5‑8 % upside) with a stop just below the 200‑day SMA (≈ $30). Conversely, a failure to breach this level or a weak earnings commentary may trigger a pull‑back to the $30–31 support zone. Keep an eye on the earnings‑release calendar for the definitive guidance signal.