FOX (NASDAQ:FOX) Releases Earnings Results

FOX (NASDAQ:FOX) posted its earnings results on Wednesday. The company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.31, FiscalAI reports. FOX had a net margin of 11.41% and a return on equity of 18.14%. The business had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.06 billion.

Here are the key takeaways from FOX’s conference call:

• Advertising momentum: Fox said ad revenue grew despite tough prior-year political comps, citing record ad performance across MLB postseason, NFL and college football and strong news scatter pricing (up ~46%), with ~200 new advertisers added this half.
• FOX One and distribution trends: Distribution revenue rose 4% and sequential subscriber declines improved (reported ~6.3% decline excl. FOX One); FOX One — launched five months ago — has exceeded expectations, with sports driving ~2/3 of usage and news ~1/3, and management targets low- to mid-single-digit million subscribers over 3–4 years.
• Tubi growth and profitability: Tubi delivered its most streamed quarter, view time +27% YoY, revenue +19% QoQ, and achieved EBITDA profitability for the second consecutive quarter.
• Profitability and cash flow pressures: total revenue was $5.18B (+2% YoY) but adjusted EBITDA fell to $692M (from $781M) due to higher digital growth and sports programming costs, net income dropped to $229M, and free cash flow showed a seasonal deficit of $791M this quarter.
• Shareholder returns and balance sheet: Management resumed significant capital returns — $1.8B repurchased fiscal YTD (cumulative $8.4B, ~35% of shares) and announced a $0.28/share semiannual dividend — while ending the quarter with ~$2B cash and $6.6B debt.

FOX Price Performance

Shares of NASDAQ FOX opened at $59.15 on Friday. The firm has a 50-day simple moving average of $64.08 and a 200-day simple moving average of $57.81. The company has a quick ratio of 3.03, a current ratio of 2.78 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $26.26 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 1.32 and a beta of 0.56. FOX has a 52 week low of $43.18 and a 52 week high of $68.18.

FOX Announces Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 4th will be given a $0.28 dividend. The ex-dividend date is Wednesday, March 4th. FOX’s dividend payout ratio is 12.58%.

FOX News Summary

Here are the key news stories impacting FOX this week:

• Positive Sentiment: FOX reported a beat for Q2 fiscal 2026: EPS $0.82 vs. $0.51 consensus and revenue $5.18B, driven by advertising strength at news/sports networks and growth at ad-supported streamer Tubi. This confirms near-term revenue and margin momentum. Reuters: Fox beats estimates for quarterly revenue
• Positive Sentiment: Management declared a $0.28 per-share dividend (record March 4 / pay March 25), which supports income-focused holders and signals cash-flow confidence.
• Neutral Sentiment: Some firms (e.g., Morgan Stanley) kept a Hold rating while raising price targets, reflecting mixed views: they see streaming and fundamentals improving but still acknowledge structural headwinds in linear TV. TipRanks: Morgan Stanley Hold maintained
• Negative Sentiment: Wells Fargo downgraded FOX from “strong-buy” to “hold,” which likely triggered selling and headline-driven flows; the downgrade highlights lingering skepticism among some sell-side analysts despite the beat. Zacks: Wells Fargo downgrade
• Neutral Sentiment: Broad media coverage (WSJ, Deadline, PR Newswire) reiterated the beat and noted World Series and cable ad strength as drivers — supportive background but not a catalyst strong enough to offset the downgrade-driven selling. PR Newswire: Fox reports Q2 results

Wall Street Analyst Weigh In

FOX has been the subject of a number of recent analyst reports. Fox Advisors set a $97.00 price objective on FOX in a research report on Tuesday, October 28th. Wells Fargo & Company cut shares of FOX from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Weiss Ratings restated a “buy (b)” rating on shares of FOX in a research report on Monday, December 29th. Cfra reaffirmed a “buy” rating and set a $73.00 price objective on shares of FOX in a report on Monday, November 3rd. Finally, UBS Group reissued a “buy” rating on shares of FOX in a research note on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $82.50.

Insider Activity at FOX

In other news, Chairman Keith Rupert Murdoch sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $59.26, for a total value of $5,926,000.00. Following the completion of the sale, the chairman directly owned 1,100,862 shares in the company, valued at $65,237,082.12. This represents a 8.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Adam G. Ciongoli sold 29,897 shares of the stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $69.55, for a total value of $2,079,336.35. Following the completion of the sale, the insider directly owned 35,978 shares of the company’s stock, valued at approximately $2,502,269.90. This represents a 45.38% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 268,294 shares of company stock valued at $17,214,273. Corporate insiders own 23.06% of the company’s stock.

Institutional Trading of FOX

Institutional investors have recently made changes to their positions in the company. Baird Financial Group Inc. grew its position in FOX by 1.1% in the second quarter. Baird Financial Group Inc. now owns 31,707 shares of the company’s stock worth $1,637,000 after acquiring an additional 343 shares during the period. Brown Brothers Harriman & Co. lifted its stake in shares of FOX by 336.9% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 616 shares of the company’s stock valued at $35,000 after purchasing an additional 475 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of FOX by 4.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,446 shares of the company’s stock valued at $656,000 after purchasing an additional 586 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of FOX by 95.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,442 shares of the company’s stock worth $76,000 after purchasing an additional 703 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in shares of FOX by 130.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,300 shares of the company’s stock worth $119,000 after purchasing an additional 1,301 shares during the last quarter. Hedge funds and other institutional investors own 26.41% of the company’s stock.

FOX Company Profile

Fox Corporation (NASDAQ:FOX) is a U.S.-based media company that operates television broadcast, news and sports businesses. The company traces its contemporary structure to the 2019 reorganization that followed the sale of certain entertainment assets to The Walt Disney Company; Fox Corporation retained a portfolio centered on the Fox Broadcasting Company, Fox Television Stations, Fox News Media and Fox Sports. Over time the company has expanded its digital footprint through acquisitions and direct-to-consumer services, building a mix of linear and streaming distribution.

FOX’s core activities include the creation, aggregation and distribution of television programming and live sports, the operation of national cable news and business networks, and the ownership and operation of local broadcast stations.