NEW YORK, Feb. 4, 2026 /PRNewswire/ -- Fox Corporation (Nasdaq: FOXA, FOX; "FOX" or the "Company") t...

FOX REPORTS SECOND QUARTER FISCAL 2026 REVENUES OF $5.18 BILLION, NET INCOME OF $247 MILLION, AND ADJUSTED EBITDA OF $692 MILLION

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>NEW YORK, Feb. 4, 2026 /PRNewswire/ -- Fox Corporation (Nasdaq: FOXA, FOX; &quot;FOX&quot; or the &quot;Company&quot;) t...</p>
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  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Fox Corporation&#039;s financial results for Q2 fiscal 2026 show a 2% revenue increase to $5.18 billion, but net income fell significantly to $247 million. This mixed performance reflects ongoing investments in programming despite a challenging advertising environment. The company continues to execute on strategic initiatives in sports and digital, maintaining a dividend payout in this context.</p>
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  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>FOX reported Q2 fiscal 2026 revenues of $5.18 billion, up 2%.</li><li>Net income fell to $247 million from $388 million year-over-year.</li><li>Advertising revenues rose 1%, driven by sports and digital growth.</li><li>Quarterly Adjusted EBITDA declined to $692 million amid higher costs.</li><li>FOX declared a $0.28 dividend payable on March 25, 2026.</li></ul>
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  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Tubi</strong>: Continued growth in digital revenue attributed to the Tubi AVOD service.</li><li><strong>MLB</strong>: Additional MLB postseason games boosted advertising revenue.</li></ul>
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  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>This content falls under &#039;Corporate Developments&#039; as it details recent financial results, focusing on revenue changes, EBITDA, and strategic actions affecting shareholder value. It highlights FOX&#039;s ongoing commitment to return capital to shareholders amid a challenging landscape.</p>
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  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Higher sports programming and digital growth could lead to increased advertising revenues.</li><li>Recent dividend declaration reinforces commitment to return capital to shareholders.</li><li>Stock buybacks of $1.55 billion may improve earnings per share in the upcoming quarters.</li></ul>
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  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Q2 fiscal 2026 total revenues were $5.18 billion.</li><li>Net income attributable to FOX stockholders was $229 million ($0.52 per share).</li><li>Adjusted EBITDA for the quarter was $692 million.</li><li>FOX repurchased approximately $1.55 billion worth of shares in the quarter.</li><li>The declared dividend is $0.28 per share, payable on March 25, 2026.</li></ul>
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  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Maintain a positive outlook on FOX despite near-term earnings pressure; consider buying on dips.</p>
  </section>
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<article>
    <h2>FOX Reports Impressive Second Quarter Fiscal 2026 Earnings</h2>
    <p>Fox Corporation (Nasdaq: FOXA, FOX) has announced its financial results for the second quarter of fiscal 2026, concluding on December 31, 2025. The company reported total revenues of <strong>$5.18 billion</strong>, marking a <strong>2% increase</strong> from the same quarter a year prior, along with a net income of <strong>$247 million</strong>. This performance reinforces FOX's strong market presence in an evolving media landscape.</p>

    <section>
        <h3>Quarterly Revenue Breakdown</h3>
        <p>The revenue growth of FOX was influenced by various factors:</p>
        <ul>
            <li><strong>Distribution revenues:</strong> Increased by <strong>4%</strong>, primarily driven by a <strong>5% growth</strong> in the Cable Network Programming segment.</li>
            <li><strong>Advertising revenues:</strong> Gained <strong>1%</strong>, buoyed by enhanced pricing in sports and news, alongside a surge in digital content consumption led by the Tubi AVOD service.</li>
            <li><strong>Content and other revenues:</strong> Remained stable compared to the previous year.</li>
        </ul>
    </section>

    <section>
        <h3>Net Income and Earnings Per Share</h3>
        <p>FOX's net income for the quarter was <strong>$247 million</strong>, down from <strong>$388 million</strong> in the prior year. Net income attributable to FOX stockholders was <strong>$229 million</strong> or <strong>$0.52 per share</strong>, compared to <strong>$373 million</strong> or <strong>$0.81 per share</strong> a year earlier. Adjusted net income attributable to FOX Corporation stockholders was <strong>$360 million</strong> (<strong>$0.82 per share</strong>) compared to <strong>$442 million</strong> (<strong>$0.96 per share</strong>) last year.</p>
    </section>

    <section>
        <h3>Adjusted EBITDA and Expense Overview</h3>
        <p>For the second quarter, adjusted EBITDA was reported at <strong>$692 million</strong>, a decline from <strong>$781 million</strong> in the same quarter of the previous year. This decrease was attributed to a rise in operational expenses, primarily driven by:</p>
        <ul>
            <li>Higher sports programming rights amortization and production costs</li>
            <li>Increased digital marketing expenses</li>
            <li>These costs were partially mitigated by reduced entertainment programming rights amortization and production costs.</li>
        </ul>
    </section>

    <section>
        <h3>CEO Commentary</h3>
        <p>Lachlan Murdoch, Executive Chair and Chief Executive Officer of FOX, expressed optimism about the company’s performance: <em>"FOX delivered robust results in the second quarter of fiscal 2026 with broad-based contributions from across our portfolio, including notable strength in advertising."</em> He further stated that these results are indicative of the operational and financial momentum built over the past several years, underpinned by a distinctive strategy and effective execution across its leading brand segments in news, sports, streaming, and entertainment.</p>
    </section>

    <section>
        <h3>Operational Results Snapshot</h3>
        <p>Key operational results for the three-month period ended December 31 include:</p>
        <ul>
            <li><strong>Distribution revenues:</strong> $2.00 billion (up from $1.93 billion)</li>
            <li><strong>Advertising revenues:</strong> $2.46 billion (up from $2.42 billion)</li>
            <li><strong>Content and other revenues:</strong> $725 million (up from $723 million)</li>
        </ul>
    </section>

    <section>
        <h3>Segment Performance</h3>
        <p>In terms of segment performance, Cable Network Programming showed a notable increase, reporting:</p>
        <ul>
            <li><strong>Revenues:</strong> $2.28 billion, up <strong>5%</strong> year-over-year.</li>
            <li><strong>EBITDA:</strong> $687 million, representing a <strong>5%</strong> rise from the previous year.</li>
        </ul>
    </section>
    
    <p>Overall, FOX continues to demonstrate strong financial health and market resilience despite varying advertising landscapes and evolving viewer preferences, securing its position as a leader in the media and entertainment sector.</p>
</article>

Fox Corporation's financial results for Q2 fiscal 2026 show a 2% revenue increase to $5.18 billion, but net income fell significantly to $247 million. This mixed performance reflects ongoing investments in programming despite a challenging advertising environment. The company continues to execute on strategic initiatives in sports and digital, maintaining a dividend payout in this context.

FOX REPORTS SECOND QUARTER FISCAL 2026 REVENUES OF $5.18 BILLION, NET INCOME OF $247 MILLION, AND ADJUSTED EBITDA OF $692 MILLION

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Corporate Developments

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