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Investing.com -- Fox Corporation reported earnings and revenue that beat analyst expectations for the first quarter of fiscal 2026, and announced the launch of a $1.5 billion accelerated share repurchase program.
The mass media company delivered earnings per share (EPS) of $1.51 for the quarter, well above the analysts’ estimates of $1.11. Revenue rose to $3.74 billion, up 5% year-over-year, and ahead of the $3.57 billion consensus.
"Coming off a record Fiscal 2025, our strong operating momentum has carried through the first quarter of Fiscal 2026. 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," Executive Chair and CEO Lachlan Murdoch said.
"The quality of our assets and their consistent capacity to deliver financially gives me great confidence in the positive outlook for FOX."
Distribution revenue grew 3% in the quarter, supported by gains of 3% in Cable Network Programming and 2% in the Television segment.
Advertising revenue increased 6%, driven by digital growth from the Tubi streaming platform, stronger pricing in news, and higher sports pricing and ratings led by the NFL, partly offset by weaker political advertising.
Content and other revenues advanced 12%, reflecting stronger entertainment content sales.
Adjusted EBITDA came in at $1.07 billion, up 2% year over year, as higher revenues helped offset cost pressures.