Slide 1: FOX Reports Third Quarter Fiscal 2026
EARNINGS RELEASE FOR THE QUARTER ENDED MARCH 31, 2026 FOX REPORTS THIRD QUARTER FISCAL 2026 REVENUE OF $3.99 BILLION, NET INCOME OF $175 MILLION, AND ADJUSTED EBITDA OF $954 MILLION NEW YORK, NY, May 11, 2026 – Fox Corporation (Nasdaq: FOXA, FOX; “FOX” or the “Company”) today reported financial resu
Slide 2: Review of Operating Results
EARNINGS RELEASE FOR THE QUARTER ENDED MARCH 31, 2026 REVIEW OF OPERATING RESULTS Three Months Ended Nine Months Ended March 31, March 31, 2026 2025 2026 2025 $ Millions Revenues by Component: Distribution3 $ 2,107 $ 2,039 $ 6,024 $ 5,840 Advertising 1,556 2,036 5,423 5,787 Content and other 331 296
Slide 3: Cable Network Programming
EARNINGS RELEASE FOR THE QUARTER ENDED MARCH 31, 2026 CABLE NETWORK PROGRAMMING Three Months Ended Nine Months Ended March 31, March 31, 2026 2025 2026 2025 $ Millions Revenues Distribution $ 1,233 $ 1,169 $ 3,486 $ 3,340 Advertising 390 372 1,226 1,153 Content and other 118 95 966 905 Total revenue
Slide 4: Television
EARNINGS RELEASE FOR THE QUARTER ENDED MARCH 31, 2026 TELEVISION Three Months Ended Nine Months Ended March 31, March 31, 2026 2025 2026 2025 $ Millions Revenues Advertising $ 1,166 $ 1,664 $ 4,197 $ 4,634 Distribution 858 870 2,510 2,500 Content and other 173 170 477 484 Total revenues 2,197 2,704
Slide 5: Share Repurchase Program
EARNINGS RELEASE FOR THE QUARTER ENDED MARCH 31, 2026 SHARE REPURCHASE PROGRAM As of March 31, 2026, the Company has cumulatively repurchased approximately $6.7 billion of its Class A common stock and approximately $1.8 billion of its Class B common stock, with a remaining authorization of $3.5 bill
Slide 6: Consolidated Statements of Operations
EARNINGS RELEASE FOR THE QUARTER ENDED MARCH 31, 2026 CONSOLIDATED STATEMENTS OF OPERATIONS Three Months Ended Nine Months Ended March 31, March 31, 2026 2025 2026 2025 $ Millions, except per share amounts Revenues $ 3,994 $ 4,371 $ 12,914 $ 13,013 Operating expenses (2,494) (2,965) (8,473) (8,759)
Slide 7: Consolidated Balance Sheets
EARNINGS RELEASE FOR THE QUARTER ENDED MARCH 31, 2026 CONSOLIDATED BALANCE SHEETS March 31, June 30, 2026 2025 $ Millions Assets: Current assets: Cash and cash equivalents $ 3,601 $ 5,351 Receivables, net 2,948 2,472 Inventories, net 652 432 Other 337 174 Total current assets 7,538 8,429 Non-current
Slide 8: Consolidated Statements of Cash Flows
EARNINGS RELEASE FOR THE QUARTER ENDED MARCH 31, 2026 CONSOLIDATED STATEMENTS OF CASH FLOWS Nine Months Ended March 31, 2026 2025 $ Millions OPERATING ACTIVITIES: Net income $ 1,031 $ 1,574 Adjustments to reconcile net income to net cash provided by operating activities Depreciation and amortization
Slide 9: Note 1 – Adjusted Net Income and Adjusted EPS
EARNINGS RELEASE FOR THE QUARTER ENDED MARCH 31, 2026 NOTE 1 – ADJUSTED NET INCOME AND ADJUSTED EPS The Company uses net income attributable to Fox Corporation stockholders and earnings per share (“EPS”) attributable to Fox Corporation stockholders excluding net income effects of Restructuring, impa
Slide 10: Note 2 – Adjusted EBITDA
EARNINGS RELEASE FOR THE QUARTER ENDED MARCH 31, 2026 NOTE 2 – ADJUSTED EBITDA Adjusted EBITDA is defined as Revenues less Operating expenses and Selling, general and administrative expenses. Adjusted EBITDA does not include: Depreciation and amortization, Restructuring, impairment and other corpora