Fox Revenue Jumps 22% to $4.57 Billion in Fiscal First Quarter
Key Facts
Fox reported revenue of $4.57 billion in the first quarter of fiscal 2027, ended September 30, 2026, up 22% year over year, or $833 million, the company said. Net income rose to $957 million from $609 million in the year-earlier period. Net income attributable to company shareholders was $943 million, or $2.20 per share, compared with $599 million and $1.32 per share a year earlier. Reported earnings per share topped the Wall Street estimate of $2.06, while revenue also exceeded the $4.32 billion estimate, according to Investing.com estimates ahead of the results. Chief Executive Lachlan Murdoch said the company began the year with strong revenue and adjusted EBITDA performance, supported by growth in advertising and distribution.
On an adjusted basis, net income attributable to Fox shareholders was about $1.09 billion, or $2.54 per share, compared with $686 million and $1.51 per share in the year-earlier quarter. Adjusted EBITDA rose to $1.64 billion, up 54%, or $576 million. These figures distinguish reported earnings of $2.20 per share from higher adjusted earnings of $2.54. In the previous quarter, the company posted earnings of $1.79 per share and revenue of $4.21 billion, according to figures cited by Investing.com in its preview ahead of the results. The latest quarter's revenue therefore exceeded the previous quarter's level and topped pre-announcement market estimates.
Advertising was the leading revenue growth driver, with revenue up 47% during the quarter, Fox said. The company attributed the increase mainly to broadcasting the men's FIFA World Cup this year, higher political advertising revenue and continued digital growth led by Tubi. Murdoch said the supporting factors included the tournament, the start of the college football and NFL seasons, and an active national and local election cycle. In the Cable Network Programming segment, advertising revenue rose 8%, driven mainly by sports advertising, including World Cup broadcasts. Lower digital news advertising partly offset that segment's growth, the company said.
Improvement extended to distribution revenue, which rose 9% in the first quarter of fiscal 2027. Cable Network Programming revenue grew 10%, while Television segment revenue rose 4%, according to the company. Murdoch said revenue and adjusted EBITDA reached first-quarter records, supported by strong growth in advertising and distribution. Higher expenses, meanwhile, were tied mainly to amortization of sports rights and production costs related to the World Cup, as well as higher digital content costs. FOXA shares closed at $63.24 on October 30, 2026.