FOX Corp. delivered a strong second quarter as revenue growth accelerated across its portfolio. The company posted gains from advertising, distribution, and television operations.
What We Know: While the months of May, June, and July mark the second quarter of 2026, it makes up the fourth quarter of FOX’s fiscal year. FOX Corp. reported second-quarter financial results, highlighted by record revenue growth and improved profitability. The company saw strength across its core businesses, including cable programming, television, and digital operations. Additionally, FOX continued expanding its streaming strategy while benefiting from major programming events.
What the Numbers Show:
| Metric | Result | Change |
|---|---|---|
| Total Revenue | $4.2 billion | ↑ 28.1% |
| Distribution Revenue | $2.0 billion | ↑ 4.8% |
| Advertising Revenue | $1.9 billion | ↑ 77.7% |
| Cable Programming Revenue | $1.7 billion | ↑ 9% |
| Television Revenue | $2.5 billion | ↑ 45.4% |
| Adjusted EBITDA | $1.2 billion | ↑ 27.3% |
What They Said: “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.” -FOX Corp. CEO Lachlan Murdoch
What It Means: FOX enters the next fiscal year with momentum across its business lines. Advertising growth provided a significant boost, while television revenue benefited from major events and programming strength. Meanwhile, the company’s streaming investments continue to shape its future strategy. As FOX expands FOX One and strengthens Tubi, executives believe the company has positioned itself for additional growth.
Barrett Media produces daily content on the music, news, and sports media industries. Sign up for our newsletters to stay updated and get the latest information right in your inbox.
Garrett Searight is Barrett Media’s News Editor, which includes writing daily news stories, features, and opinion columns. He joined Barrett Media in 2022 after a decade leading several radio brands in several formats, as well as a 5-year stint working in local television. In addition to his work with Barrett Media, he is a radio and TV play-by-play broadcaster. Reach out to him at Garrett@BarrettMedia.com.