Fox Corporation's third quarter fiscal 2026 revenue of $3.99B and EPS of $1.32 both beat expectations.

Fox Corporation reported third quarter fiscal 2026 results that exceeded analyst expectations, with revenue of $3.99 billion and adjusted EPS of $1.32. The year-over-year revenue decline was expected due to the absence of the prior year's Super Bowl LIX broadcast, which also led to lower expenses and an 11% increase in adjusted EBITDA to $954 million.

Key Highlights

• Advertising revenue came in at $1.56 billion, declining year-over-year as expected without the Super Bowl, but was partially offset by an additional NFL Wild Card game and continued digital growth at Tubi.
• Distribution revenue demonstrated stability, growing 3% to $2.11 billion, driven by a 5% increase in the Cable Network Programming segment due to contractual price increases.
• Adjusted EBITDA grew 11% to $954 million, as lower sports programming costs from the absence of the Super Bowl more than compensated for the decline in revenue.