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FOX REPORTS THIRD QUARTER FISCAL 2026 REVENUE OF $3.99 BILLION, NET INCOME OF $175 MILLION, AND ADJUSTED EBITDA OF $954 MILLION

FOXA
  • Fox Corporation reported total quarterly revenue of $3.99 billion for the three months ended March 31, 2026, a decrease from $4.37 billion in the prior year quarter.
  • Distribution revenue increased 3% to $2.11 billion, driven by 5% growth in the Cable Network Programming segment.
  • Advertising revenue fell to $1.56 billion from $2.04 billion, primarily due to the absence of the prior year Super Bowl LIX broadcast, partially offset by an additional NFL Wild Card game and digital growth via Tubi.
  • Content and other revenue rose 12% to $331 million, mainly due to higher sports sublicensing revenue.
  • Quarterly net income decreased to $175 million from $354 million in the prior year quarter.
  • Net income attributable to Fox Corporation stockholders was $166 million ($0.38 per share), down from $346 million ($0.75 per share) in the prior year quarter.
  • Adjusted net income attributable to stockholders increased to $570 million ($1.32 per share) from $507 million ($1.10 per share) in the prior year quarter.
  • Quarterly Adjusted EBITDA rose 11% to $954 million, as lower expenses from reduced sports programming rights amortization and production costs offset the revenue decline.
  • Cable Network Programming segment revenue grew 6% to $1.74 billion, with distribution revenue up 5% and advertising revenue up 5%.
  • Television segment revenue declined to $2.20 billion from $2.70 billion, driven by lower advertising revenue, while segment EBITDA increased to $191 million.
  • As of March 31, 2026, the Company had cumulatively repurchased approximately $8.5 billion of its common stock with a remaining authorization of $3.5 billion.
  • Executive Chair Lachlan Murdoch highlighted strong core advertising trends, leadership in live programming, and upcoming FIFA Men's World Cup coverage in North America.
  • The Company reported $3.6 billion in cash and cash equivalents as of March 31, 2026, down from $5.35 billion at the start of the fiscal year.