Business
FOX REPORTS THIRD QUARTER FISCAL 2026 REVENUE OF $3.99 BILLION, NET INCOME OF $175 MILLION, AND ADJUSTED EBITDA OF $954 MILLION
NEW YORK, May 11, 2026 /PRNewswire/ -- Fox Corporation (Nasdaq: FOXA, FOX) ("FOX" or the "Company") today reported financial results for the three months
About this update from Fox Corporation
[{"type":"text","content":"NEW YORK, May 11, 2026 /PRNewswire/ -- Fox Corporation (Nasdaq: FOXA, FOX) (\"FOX\" or the \"Company\") today reported financial results for the three months ended March 31, 2026.The Company reported total quarterly revenue of $3.99 billion as compared to the $4.37 billion reported in the prior year quarter. Distribution revenue increased 3%, driven by 5% growth at the Cable Network Programming segment. Advertising revenue was $1.56 billion as compared to the $2.04 billion reported in the prior year quarter, primarily due to the absence of the prior year broadcast of Super Bowl LIX, partially offset by the impact of an additional NFL Wild Card game and continued digital growth led by the Tubi AVOD service. Content and other revenue increased 12% primarily due to higher sports sublicensing revenue.The Company reported quarterly net income of $175 million as compared to the $354 million reported in the prior year quarter. Net income attributable to Fox Corporation stockholders was $166 million ($0.38 per share) as compared to the $346 million ($0.75 per share) reported in the prior year quarter. Adjusted net income attributable to Fox Corporation stockholders[1] was $570 million ($1.32 per share) as compared to the $507 million ($1.10 per share) reported in the prior year quarter.Quarterly Adjusted EBITDA[2] was $954 million, an increase of $98 million or 11% from the amount reported in the prior year quarter, as the revenue decrease noted above was more than offset by lower expenses. The decrease in expenses was primarily due to lower sports programming rights amortization and production costs, led by the absence of the prior year broadcast of Super Bowl LIX, partially offset by the impact of an additional NFL Wild Card game and costs associated with the launch of Fox One.Commenting on the results, Executive Chair and Chief Executive Officer Lachlan Murdoch said:\"Our fiscal third quarter results once again demonstrate continued strength and momentum across our business. This strong performance, led by robust core advertising trends, underscores FOX's leadership in live programming, bolstered by continued strength at our leading free streaming service, Tubi. Against this backdrop, we are proud to be bringing the world's biggest sporting event to American homes with the FIFA Men's World Cup hosted here in North America across June...