The adjusted EPS beat and EBITDA growth could support the stock near-term, but revenue decline may cap upside. Watch for Q4 results including FIFA World Cup impact and any guidance updates.
Price Chart
Executive Summary
Fox Corp reported Q3 FY2026 revenue of $3.99B, down 8.7% YoY due to the absence of Super Bowl LIX broadcast, but adjusted EPS of $1.32 beat consensus of $1.04 by 27% and adjusted EBITDA rose 11% to $954M. The revenue decline is a known comparator issue, while underlying profitability improved, creating a mixed picture.
Key Financial Metrics
Key Facts
- Revenue $3.99B vs $4.37B prior year, down 8.7% YoY primarily from absence of Super Bowl LIX
- GAAP net income $175M, GAAP EPS $0.38 vs $0.75 prior year
- Adjusted EPS $1.32 vs consensus $1.04, a 27% beat
- Adjusted EBITDA $954M, up 11% YoY driven by lower sports programming costs
- Cable Network Programming segment revenue up 6% to $1.74B; Television segment revenue down 19% to $2.20B due to Super Bowl absence
- Share repurchases of $100M in the quarter; remaining authorization $3.5B
Financial Impact
Revenue declined $377M YoY, but adjusted EBITDA increased $98M; adjusted EPS beat consensus by $0.28
Risk Factors
- Linear TV subscriber declines pressuring distribution revenue
- Sports rights costs remain elevated
- Advertising revenue sensitive to macro and political cycle
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-033145 |
| Document: fox-20260511.htm | 0001628280-26-033145 |
| Document: 0001628280-26-033145-index-headers.html | 0001628280-26-033145 |
| Document: 0001628280-26-033145-index.html | 0001628280-26-033145 |
| Document: 0001628280-26-033145.txt | 0001628280-26-033145 |
| 8-K Data (Synthetic) | 0001628280-26-033145 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jun 12, 2026 16w ago | Institutional Cluster | $58.92 $58.24 | ▼ −1.15% | ▼ −4.42% | $55.60 (−5.63%) |
May 11, 2026 20w ago | 8-K | $61.18 $52.20 | ▼ −14.68% | ▼ −19.07% | $55.60 (−9.12%) |
May 7, 2026 21w ago | Court Ruling | $56.50 $52.62 | ▲ +6.87% | ▲ +10.70% | $55.60 (+1.59%) |
Mar 11, 2026 29w ago | Insider Cluster | $52.77 $57.44 | ▲ +8.85% | ▼ −2.67% | $55.60 (+5.36%) |
US Market Status
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