State Street Investment Management CIO Michael Arone breaks down earnings after the bell and shares his top stocks on ‘The Claman Countdown.’
Company Fox Corporation on Wednesday reported its second-quarter earnings that beat analysts’ estimates amid growth in advertising revenue from the company’s news networks and sports programming.
The company reported $5.18 billion in revenue second quarter in its 2026 fiscal year, up 2% from the prior-year quarter and above LSEG’s estimate of $5.06 billion. Distribution revenue was up 4% in the quarter, driven primarily by 5% growth in the programming segment of the Fox cable network.
Advertising revenue was 1% higher primarily due to higher ad rates during sports and news programming, additional MLB regular season games, and digital growth led by Tubi – Fox’s free, ad-supported streaming platform. Ad revenue growth was partially offset by political advertising revenue and lower ratings.
Fox Corp is the parent company of Fox News Digital, Fox News Channel and FOX Business Network. (Erik McGregor/LightRocket via Getty Images)
FOX CORP HITS RECORD FOR ADVERTISING REVENUE IN FIRST QUARTER
Fox’s cable network, which includes the Fox News Channel and FOX Business Network and its cable sports networks, grew revenue 5% to $2.28 billion in the quarter, while advertising revenue rose nearly 7%.
“Whether it’s broadcast, direct, social or digital, Fox News Media continues to meet our audience where they are,” Fox CEO. Lachlan Murdoch said the lead company’s phone. “Over the past 12 months, a fast-paced and consistent news cycle has strengthened Fox News Media’s leadership position, with audiences turning to the network for live coverage and in-depth analysis.”
Fox Corp. CEO Lachlan Murdoch noted an increase in advertising revenue despite a drop in political ad spending compared to last year. (Drew Anger/Getty Images)
“Fox News also finished the quarter as the most-watched cable network of the day, while maintaining its lead as the most-watched cable news network and producing the top 11 cable news programs,” he said. “According to the latest Nielsen data, Fox News is the leading news network among all three political parties, which bodes well for politics ahead. election cycle.”
APPLE SEES BIGGEST SALES IN 4 YEARS, POWER OF ‘ADVERTISING’ IPHONE
“On the digital side, Fox News Digital’s social media views increased a staggering 170% year-over-year, and both Fox News and FOX Business ranked first in YouTube video views among their peers during the quarter,” added Murdoch.
Murdoch said Tubi saw its most streamed quarter ever and grew viewership 27% year-over-year, while the streaming platform’s content is expanding to include feature films. NFL game on Thanksgiving.
TUBI CEO: TUBI IS COMMITTED TO BEING A FREE BROADCAST
Fox subscription streaming serviceFox One, completed its first full quarter since launching in August, and Murdoch noted that the company hasn’t seen any attrition of traditional subscribers so far as it looks to market the platform to cord cutters.
He said that live sports events drive the majority of engagement on Fox One, news accounts for nearly one-third of minutes watched and news viewers engage with the platform more often than non-news viewers.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Fox Corporation is the parent company of FOX Business.
