Fox Corporation - Class A
Q4 2026 Earnings
Market Reaction
Did FOXA Beat Earnings? Q4 2026 Results
Fox Corporation delivered a blowout fourth quarter for fiscal 2026, posting adjusted EPS of $1.79 against a consensus estimate of $1.15, a beat of 55.65% that extended the company's streak of exceeding Wall Street expectations to four consecutive quarters. Revenue climbed 28.1% year-over-year to $4.21 billion, powered overwhelmingly by Fox's broadcast of the FIFA Men's World Cup, which sent Television segment advertising revenue up 108% and lifted total Television revenue 45% to $2.48 billion. Tubi's continued digital momentum added further fuel, reinforcing the company's position in streaming at a moment when World Cup-related ad spending lifted results across the broader media landscape. Television segment EBITDA surged 129% to $705.00 million, while Cable Network Programming grew 9% to $1.67 billion despite modestly narrower margins from elevated sports programming costs. Looking ahead, CEO Lachlan Murdoch pointed to the pending acquisition of Roku as transformative for the company's growth profile, signaling that Fox intends to use its fiscal 2027 momentum as a launching pad for expanded scale.
- FIFA Men's World Cup broadcast drove significant advertising revenue growth, particularly in the Television segment where advertising revenue increased 108%
- Continued digital growth led by the Tubi AVOD service
- Distribution revenue increased 5% driven by 7% growth at Cable Network Programming from contractual price increases
- Higher political advertising revenue at FOX Television Stations in Q4
- Launch of FOX One direct-to-consumer streaming service
“Fiscal 2026 was an exceptional year for FOX, capped by our broadcast of a remarkable FIFA Men's World Cup. We successfully launched our direct-to-consumer streaming service, FOX One, continued to keep America informed across a dynamic news cycle, enhanced Tubi's position as a leading streaming service, and announced the acquisition of Roku which will transform the scope and growth profile of our company. Financially, these milestones were underpinned by the delivery of record top-line revenue which converted into record EBITDA. With strong momentum across our portfolio, we enter fiscal 2027 exceptionally well positioned to drive sustained growth and long-term shareholder value.”
Fox CEO, on the earnings call
Forward Guidance & Outlook
CEO Lachlan Murdoch stated that with strong momentum across the portfolio, the company enters fiscal 2027 exceptionally well positioned to drive sustained growth and long-term shareholder value. The pending Roku acquisition is expected to transform the scope and growth profile of the company.
FOXA YoY Financials
FOXA Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.