Fox Corporation FOXA is set to report third-quarter fiscal 2021 results on May 5.The Zacks Consensus Estimate for earnings has increased 5.5% to 58 cents per share over the past 30 days, indicating decline of 37.6% from the year-ago quarter.The consensus mark for revenues is currently pegged at $3.1 billion, suggesting 9.9% decrease from the figure reported in the year-ago quarter.Notably, Fox has a stellar surprise history. It beat estimates in each of the trailing four quarters, delivering an average surprise of 80.4%.Fox Corporation Price and EPS Surprise Fox Corporation price-eps-surprise | Fox Corporation QuoteFactors to ConsiderCoronavirus-induced lower but recovering ad demand and spending are expected to have impacted Fox’s fiscal third-quarter advertising revenues, which accounts for over 50% of the company’s top line.Nonetheless, improved political-ad spending and resumption of certain sports events in the to-be-reported quarter are expected to have partially offset dented ad revenues due to postponement of sporting events globally.Fox’s portfolio strength across entertainment, sports and news content is expected to drive the company’s third-quarter fiscal 2021 results. The company’s strong offerings are driving user growth and this trend is likely to have continued in the to-be-reported quarter.Moreover, Fox’s investments in expanding its network are aiding ratings growth, a trend which is likely to have continued in the to-be-reported quarter.In fact, in the to-be-reported quarter, FOX News Channel (FNC) finished the month of February as the top-rated network in all of cable in primetime, according to Nielsen Media Research and remained the top-rated network in all of cable in primetime total viewers since inauguration.In total day viewership, FNC delivered 1.3 million viewers for the month of February, 210K in the 25-54 age group, and 119K in the 18-49 age group, outpacing sports-focused ESPN in both dayparts with total viewership.Further, FOX News Audio added five new podcasts to its programming catalogue, debuting each week from Mar 8.This is expected to have helped the company reach a global audience and expand its international user base while attracting advertisers to the OTT platform, thereby generating ad revenues.Key Development in Q3On Mar 18, Fox Corporation announced a new and expanded media rights agreement with the National Football League (NFL) for the next 11 years through the 2033 season.What Our Model SaysAccording to the Zacks model, the combination of a positive Earnings ESP and Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.Fox has an Earnings ESP of +13.40% and a Zacks Rank #1. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.Other Stocks to ConsiderHere are a few more companies you may want to consider, as our model shows that these also have the right combination of elements to post an earnings beat in their upcoming releases:Playtika Holding Corp. PLTK has an Earnings ESP of +18.87% and is Zacks #2 Ranked. You can see the complete list of today’s Zacks #1 Rank stocks here.CDW Corporation CDW has an Earnings ESP of +0.51% and a Zacks Rank #2.AMETEK AME has an Earnings ESP of +0.49% and a Zacks Rank #3.Breakout Biotech Stocks with Triple-Digit Profit PotentialThe biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.See these 7 breakthrough stocks now>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AMETEK, Inc. (AME): Free Stock Analysis Report CDW Corporation (CDW): Free Stock Analysis Report Fox Corporation (FOXA): Free Stock Analysis Report Playtika Holding Corp. (PLTK): Free Stock Analysis Report To read this article on Zacks.com click here.