Financial results
Fox Corporation reported fourth-quarter earnings per share of $1.79, beating the consensus of $1.41 by $0.38. Quarterly revenue was $4.21 billion, ahead of the $3.62 billion estimate.
Following the release, Fox shares traded roughly 4% higher in pre-market trading on Thursday.
Executive commentary
"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."
The comments were attributed to Executive Chair and Chief Executive Officer Lachlan Murdoch.
Television segment detail
The Television segment produced quarterly revenue of $2.48 billion, an increase of $775 million or 45% compared with the same quarter a year earlier. Advertising revenue increased by $755 million, or 108%, with the company citing the FIFA World Cup broadcast, digital expansion via the Tubi ad-supported video-on-demand service, and higher political advertising at FOX Television Stations as key drivers. Distribution revenue was flat versus the prior-year quarter. Content and other revenue rose $24 million, or 14%, primarily reflecting higher entertainment content revenue.
On profitability, the Television segment posted quarterly EBITDA of $705 million, up $397 million or 129% from the prior-year quarter. The company noted that higher sports programming rights amortization and production costs, led by the World Cup broadcast, partially offset the revenue gains.
What this means for markets
The quarter's results show a notable advertising-driven lift to revenue and EBITDA, particularly in the Television segment, alongside continued digital momentum at Tubi and the launch of the FOX One streaming service. The company highlighted transformational corporate moves in the same period that it says supported record revenue and EBITDA.