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FOXA Q2 2026 Earnings
Reported Feb 4, 2026 at 8:03 AM ET · SEC Source
Q2 26 EPS
$0.82
BEAT +58.61%
Est. $0.52
Q2 26 Revenue
$5.18B
BEAT +3.11%
Est. $5.03B
vs S&P Since Q2 26
-35.4%
TRAILING MARKET
FOXA -27.0% vs S&P +8.4%
Market Reaction
Did FOXA Beat Earnings? Q2 2026 Results
Fox Corporation delivered a headline-beating second quarter for fiscal 2026, posting adjusted EPS of $0.82 against a consensus estimate of $0.52, a 58.61% beat, while revenue of $5.18 billion edged past the $5.03 billion estimate and grew 2.0% year o… Read more Fox Corporation delivered a headline-beating second quarter for fiscal 2026, posting adjusted EPS of $0.82 against a consensus estimate of $0.52, a 58.61% beat, while revenue of $5.18 billion edged past the $5.03 billion estimate and grew 2.0% year over year. The outperformance on earnings, however, masked a more complicated underlying picture: adjusted EBITDA fell to $692 million from $781 million a year ago, as accelerating sports programming rights costs and elevated digital marketing expenses more than offset the revenue gains. The primary revenue driver was the Cable Network Programming segment, where distribution and advertising revenues both climbed on higher sports and news pricing, lifting segment revenues 5% to $2.27 billion. Fox also drew attention for its aggressive capital return posture, repurchasing approximately $1.55 billion in stock during the quarter alone, a pace that raises questions about balancing shareholder payouts against rising content investment. A quarterly dividend of $0.28 per share was declared alongside the results.
Key Takeaways
- • Distribution revenue growth of 4% driven by 5% growth at Cable Network Programming
- • Advertising revenue growth of 1% driven by higher sports and news pricing and continued Tubi digital growth
- • Additional MLB postseason games contributed to advertising revenues
- • Cable Network Programming contractual price increases offset net subscriber declines
- • Higher sports sublicensing revenues boosted Cable content and other revenues
FOXA YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
FOXA Revenue by Segment
With YoY comparisons, source: SEC Filings
“FOX delivered robust results in the second quarter of fiscal 2026 with broad based contributions from across our portfolio, including notable strength in advertising, where despite strong political advertising revenues a year ago, we still grew total company advertising revenue. These results represent a continuation of the operating and financial momentum that we have delivered over the last several years and are a product of both a highly differentiated strategy and high quality execution that reflect the power of our leadership brands across news, sports, streaming and entertainment.”
— Lachlan Murdoch, Q2 2026 Earnings Press Release
FOXA Earnings Trends
FOXA vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
FOXA EPS Trend
Earnings per share: estimate vs actual
FOXA Revenue Trend
Quarterly revenue: estimate vs actual
FOXA Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q3 26 BEAT | $0.97 | $1.32 | +36.35% | $3.99B | +4.91% |
| Q2 26 BEAT | $0.52 | $0.82 | +58.61% | $5.18B | +3.11% |
| Q1 26 BEAT | $1.10 | $1.51 | +37.41% | $3.74B | +4.75% |
| Q4 25 BEAT FY | $1.00 | $1.27 | +27.28% | $3.29B | +5.38% |
| FY Full Year | — | $4.78 | — | $16.30B | — |