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Dec 31, 2025
Fox Q2 2026 Earnings Report
Fox reported higher revenues and solid profitability in the second quarter of fiscal 2026.
Key Takeaways
Fox delivered Q2 FY2026 revenue growth driven by higher distribution and advertising revenues, while profitability remained solid despite higher sports and digital-related expenses.
Total revenues increased to $5.18 billion year over year.
Advertising revenue grew driven by sports, news pricing and digital growth.
Adjusted EBITDA remained strong at $692 million despite higher costs.
Net income declined compared to the prior year due to higher expenses.
Revenue by Segment
Forward Guidance
Fox expects continued operating momentum supported by its news, sports and digital portfolio.
Positive Outlook
- Ongoing growth in digital advertising led by Tubi.
- Strong demand for live sports and news content.
- Stable distribution revenue supported by contractual rate increases.
- Well-positioned portfolio of leading media brands.
- Continued focus on disciplined cost management.
Challenges Ahead
- Higher sports programming rights and production costs.
- Potential volatility in advertising markets.
- Lower political advertising compared to prior periods.
- Audience ratings pressure in certain segments.
- Macroeconomic uncertainty impacting ad spending.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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