Fox Corp Revenue Hits $5.18B, Beating Forecasts on Ad Growth

Edgen Stock·Feb 05 2026, 05:14

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Key Takeaways

Fox Corporation reported second-quarter fiscal 2026 results that surpassed analyst expectations, driven by solid performance in its cable and digital advertising segments. The company's strategic focus on live sports, news, and its ad-supported streaming platform Tubi continues to yield significant growth in both revenue and audience engagement.

Revenue Beat: Fox Corp posted quarterly revenue of $5.18 billion, a 2% year-over-year increase that exceeded LSEG estimates of $5.06 billion.
Cable Strength: The Cable Network Programming segment saw revenue grow 5% to $2.28 billion, with advertising revenue in the division climbing 7% on higher pricing.
Digital Expansion: The Tubi streaming service achieved a 27% year-over-year increase in total viewer time, while Fox News Digital's social media views grew 170%.

Cable Ad Revenue Climbs 7% on Sports and News

Fox Corporation reported $5.18 billion in revenue for the second quarter of its 2026 fiscal year, a 2% increase from the prior year that outpaced the LSEG analyst estimate of $5.06 billion. The growth was anchored by the company's Cable Network Programming segment, which includes Fox News Channel and its sports networks. This division's revenue grew 5% to $2.28 billion.

A key driver was a 7% increase in advertising revenue within the cable unit, fueled by higher pricing for advertisements during sports broadcasts, including additional MLB postseason games, and news programming. Overall distribution revenues also contributed, rising 4% across the company. The positive results were achieved despite a decline in political advertising compared to the previous year.

Digital Viewership Expands as Tubi Viewer Time Grows 27%

The company's digital properties demonstrated substantial audience growth, signaling a successful expansion beyond traditional cable. Tubi, Fox's free ad-supported streaming platform, recorded its most-streamed quarter ever, with total viewer time increasing 27% year-over-year. This growth highlights the platform's increasing traction in the competitive streaming market.

In addition to Tubi's performance, Fox News Digital posted a 170% increase in social media views compared to the prior year. According to CEO Lachlan Murdoch, this digital reach positions the company favorably for the upcoming political election cycle, complementing its leadership as the most-watched cable news network.