FOX (NASDAQ:FOX) Issues Quarterly Earnings Results

Posted by George Bondi on May 11th, 2026

FOX (NASDAQ:FOX – Get Free Report) posted its quarterly earnings results on Monday. The company reported $1.32 EPS for the quarter, topping the consensus estimate of $0.99 by $0.33, FiscalAI reports. FOX had a net margin of 11.41% and a return on equity of 18.14%. The company had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.78 billion.

Here are the key takeaways from FOX’s conference call:

Record quarter: Fox reported $4.0B revenue and adjusted EBITDA of $954M (up 11%), adjusted EPS of $1.32 (up 20%), and generated $1.77B of free cash flow while continuing sizable share buybacks.
Digital momentum: Fox One subscriber additions and unexpectedly low churn boosted distribution revenue and helped stabilize overall subscriber declines, while Tubi grew revenue 23%, view time 19% and was near break-even in the quarter.
Audience and advertising strength from news and sports: Fox News hit its highest Q3 ad revenue ever and is the top cable network (CPMs up >45%), and sports franchises (World Baseball Classic, MLB, IndyCar, NFL) posted strong ratings with Fox adding two national NFL games and preparing for an EBITDA-accretive FIFA World Cup window.
Headline advertising decline and segment pressures: Total advertising was down 24% year-over-year driven by the lapping of Super Bowl LIX, TV distribution was roughly flat (down 1%), and cable expenses rose due to higher sports rights amortization—factors that temper near-term comparables.

FOX Stock Up 2.3%

Shares of NASDAQ:FOX traded up $1.30 during trading on Monday, hitting $57.90. 298,328 shares of the company were exchanged, compared to its average volume of 1,600,120. The stock has a market capitalization of $24.63 billion, a P/E ratio of 13.88, a PEG ratio of 6.93 and a beta of 0.54. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.78 and a quick ratio of 2.44. FOX has a 12-month low of $48.38 and a 12-month high of $68.18. The firm’s 50 day moving average price is $54.31 and its 200-day moving average price is $58.24.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Bank of America reiterated an “underperform” rating and set a $45.00 price target (down from $80.00) on shares of FOX in a report on Wednesday, February 25th. Zacks Research cut shares of FOX from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 5th. Finally, Wells Fargo & Company cut shares of FOX from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 5th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $75.00.

Read Our Latest Stock Report on FOX

Key Stories Impacting FOX

Here are the key news stories impacting FOX this week:

Positive Sentiment: Fox reported adjusted earnings of $1.32 per share, ahead of estimates, with revenue of $3.99 billion also topping forecasts. Investors are likely encouraged by the company’s ability to outperform despite a tough comparison. Article Title
Positive Sentiment: The company said advertising strength in sports, news and Tubi helped offset the absence of Super Bowl broadcasting, suggesting core businesses are still performing well. Article Title
Positive Sentiment: Fox also said distribution revenue rose 3% and cable network programming grew 5%, which could support confidence in the company’s underlying cash flow. Article Title
Positive Sentiment: Management highlighted new NFL rights and gearing up for the World Cup, both of which could boost future viewership and advertising revenue. Article Title
Neutral Sentiment: Fox’s revenue fell from a year ago because it did not broadcast the Super Bowl this quarter, making the decline largely a comparison issue rather than a sign of weakening demand. Article Title

Insider Activity at FOX

In related news, CEO Lachlan K. Murdoch sold 637,752 shares of the company’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $58.20, for a total value of $37,117,166.40. Following the completion of the sale, the chief executive officer owned 152 shares in the company, valued at $8,846.40. This represents a 99.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John Nallen sold 216,806 shares of the company’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $57.68, for a total transaction of $12,505,370.08. Following the completion of the sale, the chief operating officer owned 362,206 shares of the company’s stock, valued at approximately $20,892,042.08. This trade represents a 37.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,586,871 shares of company stock valued at $91,893,926 in the last 90 days. Insiders own 23.06% of the company’s stock.

Hedge Funds Weigh In On FOX

Large investors have recently bought and sold shares of the company. New York State Common Retirement Fund raised its holdings in FOX by 2.5% during the fourth quarter. New York State Common Retirement Fund now owns 74,043 shares of the company’s stock worth $4,808,000 after purchasing an additional 1,800 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of FOX by 20.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 89,644 shares of the company’s stock valued at $4,628,000 after purchasing an additional 15,309 shares in the last quarter. State of Tennessee Department of Treasury grew its stake in FOX by 352.7% in the 2nd quarter. State of Tennessee Department of Treasury now owns 80,407 shares of the company’s stock valued at $4,151,000 after acquiring an additional 62,646 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in FOX by 25.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 65,513 shares of the company’s stock valued at $3,753,000 after acquiring an additional 13,231 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its stake in FOX by 7.8% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 27,835 shares of the company’s stock valued at $1,807,000 after acquiring an additional 2,010 shares during the last quarter. Hedge funds and other institutional investors own 26.41% of the company’s stock.

About FOX

(Get Free Report)

Fox Corporation (NASDAQ:FOX) is a U.S.-based media company that operates television broadcast, news and sports businesses. The company traces its contemporary structure to the 2019 reorganization that followed the sale of certain entertainment assets to The Walt Disney Company; Fox Corporation retained a portfolio centered on the Fox Broadcasting Company, Fox Television Stations, Fox News Media and Fox Sports. Over time the company has expanded its digital footprint through acquisitions and direct-to-consumer services, building a mix of linear and streaming distribution.

FOX’s core activities include the creation, aggregation and distribution of television programming and live sports, the operation of national cable news and business networks, and the ownership and operation of local broadcast stations.