Analyst Consensus ?
ConsensusHold42 ratings
Bullish1842.9%
Neutral2047.6%
Bearish49.5%
Fox Corporation · FOX · FY2026 Q2 · Calendar Q1 2026
FOX Q2 FY2026: Streaming and sports lift advertising
The supplied analysis supports a constructive operating picture for Fox: live sports and news supported advertising, while Fox One and Tubi strengthened the streaming portfolio. The main counterweights are subscriber decline, sports-related costs, and the absence of explicit guidance in the supplied analysis.
Reported Before market openNASDAQCommunication Services
$24.79B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.82
Consensus $0.51
EPS surprise
+60.8%
Reported versus consensus
Reported revenue
$5.18B
Consensus $5.06B
Revenue surprise
+2.4%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-3.8%
Event window
SPY move
-0.5%
Same window
Abnormal move
-3.3%
Stock minus SPY
Volume
2.3×
Versus trailing sessions
Subsequent drift
-12.0%
Up to 20 sessions
FOXSPY benchmark
Ask FN2 about FOX FY2026 Q2
Transcript, numbers and history already loaded
Why did FOX fall 3.8% after beating EPS estimates in FY2026 Q2?What changed in FOX's guidance and outlook in FY2026 Q2?Give me the bull and bear case for FOX after FY2026 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior quarter, Fox One subscriber mix surpassed expectations, subscriber decline improved to 6.3% year over year, and Tubi reached a second consecutive EBITDA-profitable quarter with 27% year-over-year view-time growth. The current analysis also highlights $1.8 billion of quarterly buybacks and a $0.28 per-share dividend.
Guidance delta
No explicit guidance was provided in the supplied analysis.
Key takeaways
- Advertising revenue grew across news, sports and streaming despite a difficult political-advertising comparison.
- Fox One subscriber mix exceeded expectations, while subscriber decline improved to 6.3% year over year.
- Tubi delivered its second consecutive EBITDA-profitable quarter and grew total view time 27% year over year.
- Management highlighted $1.8 billion of quarterly buybacks and a $0.28 per-share dividend.
Management priorities
- Promote sports content on Fox One through the offseason.
- Use marquee events including the FIFA World Cup and motorsports to support engagement and advertising.
- Continue expanding Tubi original content and podcast and talent offerings.
- Maintain the share-buyback and dividend policy.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$56.55Current
$36Low
$71.75Average
$97High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 28, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| JP Morgan | Overweight | Neutral | Upgrade | Aug 14, 2026 |
| Seaport Global | Neutral | Buy | Downgrade | Aug 7, 2026 |
| B of A Securities | Underperform | Buy | Downgrade | Feb 25, 2026 |
| Barclays | Equal Weight | Equal Weight | Maintain | Oct 8, 2023 |
| Rosenblatt | Neutral | Neutral | Maintain | Sep 4, 2023 |
| Citigroup | Neutral | Neutral | Maintain | Aug 16, 2023 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Aug 8, 2023 |
| Credit Suisse | Neutral | Neutral | Maintain | Aug 8, 2023 |
| Wells Fargo | Underweight | Equal Weight | Downgrade | Jul 9, 2023 |
| Argus Research | Hold | Buy | Downgrade | Apr 5, 2023 |
| Deutsche Bank | Buy | Buy | Maintain | Feb 8, 2023 |
| Loop Capital | Buy | Hold | Upgrade | Jan 24, 2023 |
| UBS | Buy | Buy | Maintain | Jan 8, 2023 |
| Guggenheim | Buy | Buy | Maintain | Jan 4, 2023 |
| Macquarie | Neutral | Neutral | Maintain | Jan 3, 2023 |
| Wolfe Research | Underperform | Peer Perform | Downgrade | Jan 2, 2023 |
| RBC Capital | Outperform | Outperform | Maintain | Nov 1, 2022 |
| Goldman Sachs | Sell | Sell | Maintain | Jul 25, 2022 |
| KeyBanc | Equal Weight | Sector Weight | Maintain | Dec 9, 2020 |
| Guggenheim Securities | Buy | Neutral | Upgrade | Nov 25, 2020 |
| BMO Capital | Perform | Market Perform | Maintain | Nov 5, 2020 |
| CFRA | Buy | Buy | Maintain | May 6, 2020 |
| Evercore ISI Group | In Line | Outperform | Downgrade | Apr 22, 2020 |
| Societe Generale | Hold | Sell | Upgrade | Apr 7, 2020 |
| Atlantic Equities | Neutral | Underweight | Upgrade | Mar 11, 2020 |
| Buckingham Research | Buy | Buy | Maintain | Feb 24, 2019 |
| B. Riley Securities | Buy | Buy | Maintain | Jun 21, 2018 |
| Pivotal Research | Hold | Buy | Downgrade | Jan 8, 2018 |
| OTR Global | Mixed | Positive | Downgrade | Jul 24, 2017 |
| Brean Capital | Buy | Hold | Upgrade | Dec 13, 2016 |
| Telsey Advisory Group | Market Perform | Outperform | Downgrade | Dec 11, 2016 |
| Jefferies | Buy | Buy | Maintain | Nov 21, 2016 |
| Bernstein | Market Perform | Outperform | Downgrade | Sep 15, 2016 |
| Pacific Crest | Overweight | Overweight | Maintain | May 4, 2016 |
| BTIG | Neutral | Buy | Downgrade | Mar 16, 2016 |
| Stifel | Buy | Buy | Maintain | Feb 8, 2016 |
| Cowen & Co. | Market Perform | Market Perform | Maintain | Feb 8, 2016 |
| Needham | Hold | Buy | Downgrade | Aug 23, 2015 |
| Sterne Agee | Buy | Buy | Maintain | Nov 23, 2014 |
| FBR Capital | Outperform | Outperform | Maintain | Oct 30, 2014 |
| ISI Group | Buy | Strong Buy | Downgrade | Jul 16, 2014 |
| Nomura | Buy | Buy | Maintain | Jul 1, 2014 |
Named analyst price targets
Upside is calculated against the persisted current price $56.55. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Fox Advisors | Analyst unavailable | $95 | $58.45 | +68.0% | Sep 14, 2026 |
| Wolfe Research | Analyst unavailable | $93 | $60.39 | +64.5% | Aug 20, 2026 |
| Wells Fargo | Steven Cahall | $80 | $58.1 | +41.5% | Aug 14, 2026 |
| Redburn Partners | Hamilton Faber | $71 | $48.44 | +25.6% | Jul 10, 2026 |
| Guggenheim | Michael Morris | $85 | $64.65 | +50.3% | Dec 22, 2025 |
| CFRA | Kenneth Leon | $73 | $58.41 | +29.1% | Nov 3, 2025 |
| UBS | John Hodulik | $76 | $58.3 | +34.4% | Oct 31, 2025 |
| UBS | Analyst unavailable | $75 | $58.83 | +32.6% | Oct 30, 2025 |
| Fox Advisors | Andy Beale | $97 | $54.81 | +71.5% | Oct 28, 2025 |
| Stifel Nicolaus | Jim Duffy | $40 | $43.93 | -29.3% | Dec 11, 2024 |
| Guggenheim | Michael Morris | $44 | $36.19 | -22.2% | Aug 7, 2024 |
| UBS | Analyst unavailable | $42 | $29.54 | -25.7% | Jan 9, 2023 |
| Guggenheim | Analyst unavailable | $40 | $28.82 | -29.3% | Jan 5, 2023 |
| Fox Advisors | Douglas Mitchelson | $36 | $26.64 | -36.3% | Oct 17, 2022 |
Track every rating change on FOX the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationFox Corporation is a prominent media conglomerate primarily focused on news, sports, and entertainment operations within the United States. Its business is structured across three main divisions: Cable Network Programming; Television; and a segment encompassing Other, Corporate, and Eliminations. The Cable Network Programming division is responsible for creating and licensing news, business news, and sports content. This content is then disseminated across the U.S. through both traditional and virtual multi-channel video programming distributors (MVPDs), as well as various other digital platforms. This segment's extensive portfolio includes well-known national cable channels such as FOX News (for general news) and FOX Business (for financial news), multi-sport networks FS1 and FS2, FOX Sports Racing (dedicated to motorsports), FOX Soccer Plus (featuring live soccer and rugby), FOX Deportes (a Spanish-language sports service), and the Big Ten Network.…
Historical context
All FOX earningsLatest beats and misses
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- PAYXFY2027 Q1 · September 23, 2026+1.5% EPS-8.8% move
- GISFY2027 Q1 · September 23, 2026+4.6% EPS+1.0% move
- AZOFY2026 Q4 · September 22, 2026+3.6% EPS+3.3% move
Get the FOX recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-09-28T20:01:01.627181+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-28T20:01:01.624333+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-09-28. For educational purposes only; not investment advice.