Fox earnings: first quarter of fiscal 2027

Fox, the company behind Fox News and the Fox TV network, had a very big first quarter. Sales rose about 22% to $4.57 billion, lifted mainly by advertising around the World Cup, US political campaigns and its free streaming service Tubi. ¹

Against what analysts expected

Fox earned $2.20 a share on its reported figures, about 4% above the $2.12 average of three analysts' forecasts listed on Nasdaq's earnings calendar. The release's own adjusted figure is not among our findings, so this comparison uses the reported number. ¹²

The strong points

• Advertising sales jumped by almost half to $2.08 billion, which the company credits to the World Cup, political advertising and growth at Tubi. ¹
• Earnings per share rose to $2.20 from $1.32 a year earlier, helped by having about 6% fewer shares after earlier buybacks. ¹
• After spending on property and equipment, about $503 million of cash was left from running the business, where a year earlier there was none. ¹

The weak points

• Only about 64% of the quarter's profit turned into cash, because $567 million went into building up programmes and rights to show. ¹
• Interest costs rose by 60% to $80 million. ¹

What the company expects

• Fox gives no figures for the next quarter or the full year, so there is nothing raised, cut or kept. ¹
• The chief executive says the business is doing strongly across the board and that this gives him confidence, but he puts no numbers on it. ¹

Our verdict on the quarter

A strong report. Sales, profit and cash all grew strongly, and earnings per share came in above what analysts expected. Fox gave no forecast to judge, though, and much of the lift came from events like the World Cup and elections that may not repeat.

The results as published

• The results release itself
• The filing it came with (SEC)
• The previous results, for what it forecast then

Notes

1. Fox's results release, 2 November 2026: sec.gov. ↩
2. Nasdaq's earnings calendar, 2 November 2026. ↩