Fox revenue jumps 5% on strong advertising demand
Fox said Thursday that revenue jumped nearly 5% in its most recent quarter thanks to strong advertising demand across its business.
In its fiscal first quarter, revenue rose 4.9% to $3.74 billion – beating Wall Street estimates of $3.57 billion.
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Advertising revenues soared 6% for the three months ended Sept. 30.
Fox’s Tubi streaming service, news division and NFL offerings were some of the top players bringing in ad dollars.
Revenue for Fox’s cable business, which includes Fox News, Fox Business and Fox Sports 1, jumped $1.66 billion, up 4.1% from the previous year.
Its television division reported a 5% rise in revenue to $2.05 billion.
Fox reported profit of $599 million, or $1.32 a share – down from $827 million, or $1.78 a share, the same time last year.
Net income was $609 million, down from $832 million the previous year.
The company blamed higher expenses for digital marketing and content, along with larger costs associated with its entertainment programming.
Excluding some one-time items, Fox reported earnings of $1.51 a share – above expectations of $1.11, according to analysts surveyed by FactSet.
The company also said higher prices and ratings helped offset a dip in political advertising revenues.
“We are delivering for audiences with continued engagement growth across the portfolio which underpins the robust advertising demand we are seeing across sports, news, entertainment and Tubi,” said Fox CEO Lachlan Murdoch.
Fox unveiled its new streaming service, Fox One, about halfway through the quarter. It combines programming from Fox News and Fox Sports for $19.99 a month.
Murdoch said the adoption of Fox One has “exceeded expectations.”
Also on Thursday, the company announced a $1.5 billion share buyback program.
It expects to repurchase $700 million of Class A common stock and $800 million of Class B common stock. The transaction is slated to close during the second half of fiscal year 2026.
The Post’s parent company, News Corp, shares common ownership with Fox Corp.
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