FOX (NASDAQ:FOX) Announces Quarterly Earnings Results

by · The Cerbat Gem

FOX (NASDAQ:FOX – Get Free Report) released its quarterly earnings results on Wednesday. The company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.33, FiscalAI reports. FOX had a net margin of 12.35% and a return on equity of 18.61%. The business had revenue of $5.18 billion for the quarter.

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

  • Advertising momentum: Fox said ad revenue grew despite tough prior-year political comps, citing record ad performance across MLB postseason, NFL and college football and strong news scatter pricing (up ~46%), with ~200 new advertisers added this half.
  • FOX One and distribution trends: Distribution revenue rose 4% and sequential subscriber declines improved (reported ~6.3% decline excl. FOX One); FOX One — launched five months ago — has exceeded expectations, with sports driving ~2/3 of usage and news ~1/3, and management targets low- to mid-single-digit million subscribers over 3–4 years.
  • Tubi growth and profitability: Tubi delivered its most streamed quarter, view time +27% YoY, revenue +19% QoQ, and achieved EBITDA profitability for the second consecutive quarter.
  • Profitability and cash flow pressures: total revenue was $5.18B (+2% YoY) but adjusted EBITDA fell to $692M (from $781M) due to higher digital growth and sports programming costs, net income dropped to $229M, and free cash flow showed a seasonal deficit of $791M this quarter.
  • Shareholder returns and balance sheet: Management resumed significant capital returns — $1.8B repurchased fiscal YTD (cumulative $8.4B, ~35% of shares) and announced a $0.28/share semiannual dividend — while ending the quarter with ~$2B cash and $6.6B debt.

FOX Stock Performance

NASDAQ FOX opened at $63.18 on Wednesday. The stock has a market cap of $28.05 billion, a PE ratio of 14.20, a P/E/G ratio of 1.45 and a beta of 0.56. The stock has a fifty day simple moving average of $64.01 and a 200-day simple moving average of $57.78. FOX has a twelve month low of $43.18 and a twelve month high of $68.18. The company has a current ratio of 3.24, a quick ratio of 3.03 and a debt-to-equity ratio of 0.54.

Insider Transactions at FOX

In related news, CFO Steven Tomsic sold 138,397 shares of the firm’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $66.54, for a total value of $9,208,936.38. Following the completion of the sale, the chief financial officer owned 180,556 shares in the company, valued at $12,014,196.24. This trade represents a 43.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Adam G. Ciongoli sold 29,897 shares of the stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $69.55, for a total transaction of $2,079,336.35. Following the completion of the transaction, the insider directly owned 35,978 shares of the company’s stock, valued at approximately $2,502,269.90. This trade represents a 45.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 437,050 shares of company stock worth $28,347,106. Insiders own 23.06% of the company’s stock.

Institutional Trading of FOX

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Marshall Wace LLP increased its stake in FOX by 792.4% during the 3rd quarter. Marshall Wace LLP now owns 3,184,642 shares of the company’s stock valued at $182,448,000 after buying an additional 2,827,768 shares during the period. Jane Street Group LLC boosted its stake in shares of FOX by 427.0% during the 1st quarter. Jane Street Group LLC now owns 97,261 shares of the company’s stock worth $5,127,000 after acquiring an additional 78,804 shares in the last quarter. State of Tennessee Department of Treasury increased 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 worth $4,151,000 after purchasing an additional 62,646 shares in the last quarter. Redwood Investment Management LLC purchased a new position in shares of FOX in the second quarter worth approximately $1,374,000. Finally, Ameriprise Financial Inc. raised its stake in FOX by 27.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 114,626 shares of the company’s stock valued at $6,567,000 after purchasing an additional 24,982 shares during the period. Institutional investors own 26.41% of the company’s stock.

FOX News Roundup

Here are the key news stories impacting FOX this week:

  • Positive Sentiment: Q2 fiscal 2026 surprise — FOX reported EPS of $0.82 (well above consensus) and revenue of $5.18 billion, with adjusted EBITDA of $692M; management cited stronger cable advertising, sports momentum (World Series viewership) and growth at ad-supported streamer Tubi as drivers. FOX Reports Q2 Fiscal 2026 Results
  • Positive Sentiment: Street reaction and revenue confirmation — Reuters and Deadline note Fox beat revenue estimates and cited ad demand at news/sports and Tubi’s contribution; that revenue durability supports near-term cash flow and the company’s multiple. Fox beats estimates for quarterly revenue (Reuters)
  • Positive Sentiment: Analyst backdrop remains constructive — Multiple recent buy/overweight ratings and price targets above current levels (median target noted around $76, some as high as $87) give additional support to the stock’s upside narrative. FOX Releases Q2 2026 Earnings (QuiverQuant)
  • Neutral Sentiment: High volume of day-to-day editorial content — A slate of news and opinion pieces (politics, international events, local crime, sports) is being published but is unlikely to change near-term fundamentals; the earnings beat is the primary market mover. Maine residents rally to protect girls’ sports
  • Neutral Sentiment: Short-interest/market-data oddity — a feed item flagged a “large increase” in short interest but the reported figures are inconsistent (shows zero shares); no clear signal from short-interest data right now.

Analysts Set New Price Targets

FOX has been the topic of several research analyst reports. Zacks Research upgraded shares of FOX from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 7th. Fox Advisors set a $97.00 price objective on FOX in a research note on Tuesday, October 28th. Guggenheim reissued a “buy” rating and set a $85.00 price target on shares of FOX in a report on Monday, December 22nd. Cfra restated a “buy” rating and set a $73.00 price objective on shares of FOX in a research report on Monday, November 3rd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of FOX in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $82.50.

Check Out Our Latest Stock Report on FOX

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.

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