Fox Corporation · FOXA · FY2026 Q3 · Calendar Q2 2026
Fox posts record Q3 EBITDA as streaming and sports support growth
Fox's Q3 results support a view that its expanding streaming audience and live-sports portfolio can reinforce its advertising and distribution businesses. The sustainability of that support depends on managing sports-rights costs and offsetting traditional pay-TV subscriber declines.
Earnings scorecard
Reported versus consensusMarket reaction
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Transcript intelligence
What changed
Management described early Fox One growth and low churn, continued Tubi audience and revenue gains, and the addition of two regular-season NFL games. It also highlighted record adjusted EBITDA and strong advertising performance when adjusted for the prior-year Super Bowl comparison.
Guidance delta
Management maintained its outlook and described disciplined capital investment, with FY2027 spending expected below the prior-year level.
Key takeaways
- Management said Fox One subscriber churn was lower than expected, with traditional subscriber erosion stabilizing and early signs of additive growth.
- Tubi continued to expand revenue, viewing time and its creator and programming ecosystem.
- Sports programming and advertising at FOX News were identified as important performance drivers; the Super Bowl absence affected year-over-year headline ad comparisons.
- The company added two regular-season NFL games and pointed to World Cup coverage as an audience and platform opportunity.
- Management cited significant year-to-date share repurchases and a balance sheet with substantial cash and debt.
Management priorities
- Build Fox One subscriptions while supporting cable distribution.
- Expand Tubi’s creator ecosystem and original programming.
- Use sports programming, including the World Cup and newly acquired NFL games, to support audience and advertising opportunities.
- Maintain disciplined capital investment.
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Try FN2 freeCompany context
Snapshot as of publicationFox Corporation (FOXA) is a prominent U.S.-based media entity, primarily engaged in the creation and distribution of news, sports, and entertainment content. Its operational framework is divided into three main segments: Cable Network Programming, Television, and a category for "Other, Corporate and Eliminations." The Cable Network Programming segment is dedicated to developing and licensing a broad spectrum of news, business news, and sports programming. This content is distributed predominantly within the U.S. via both traditional and digital multi-channel video providers (MVPDs), as well as various online platforms. This division includes well-known channels such as the national cable news outlet FOX News and the business news channel FOX Business. Sports enthusiasts are served by multi-sport networks like FS1 and FS2, niche offerings such as FOX Sports Racing (focused on motor sports), FOX Soccer Plus (for live soccer and rugby), and the Spanish-language FOX Deportes, alongside the Big Ten Network.…
Historical context
All FOXA earningsCommunication Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| FOX Fox Corporation | FY2027 Q1 · Calendar Q4 2026 | — | -0.5% | Fox Q1 FY2027: Sports and streaming fuel advertising strength |
| PINS Pinterest, Inc. | FY2026 Q3 · Calendar Q4 2026 | -5.4% | -2.8% | Pinterest’s user growth stays strong as revenue slows amid Europe headwinds |
| RDDT Reddit, Inc. | FY2026 Q3 · Calendar Q4 2026 | +5.3% | -29.2% | Reddit posts strong Q3 growth, but search traffic raises user-growth risk |
Latest beats and misses
Who reports nextBeat on EPS
- SNYFY2026 Q3 · October 30, 2026+30.8% EPS+2.8% move
- CHDFY2026 Q3 · October 30, 2026+2.2% EPS+1.2% move
- AZNFY2026 Q3 · October 30, 2026+7.3% EPS+7.0% move
- FRTFY2026 Q3 · October 30, 2026+3.9% EPS-1.1% move
- CVXFY2026 Q3 · October 30, 2026+8.4% EPS+1.8% move
- BTSGFY2026 Q3 · October 30, 2026+14.2% EPS+11.1% move
Missed on EPS
- GLPIFY2026 Q3 · October 29, 2026-11.5% EPS-1.3% move
- LYBFY2026 Q3 · October 30, 2026-1.2% EPS+5.0% move
- CCJFY2026 Q3 · October 30, 2026-101.4% EPS-7.9% move
- VALEFY2026 Q3 · October 29, 2026-24.6% EPS+1.9% move
- PINSFY2026 Q3 · October 29, 2026-5.4% EPS-2.8% move
- DLR-PLFY2026 Q3 · October 29, 2026-8.4% EPS— move
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T17:16:58.166025+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-11-02T18:50:48.495057+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-02T18:50:48.492271+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.
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 2026-11-02. For educational purposes only; not investment advice.