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FOXA FY2026 Q3 IMPROVING

Fox Corporation 실적 발표

May 11, 2026 · 08:30 ET Gabrielle BrownLachlan MurdochSteve Tomczyk
Buzzberg 분석

Fox acquires two additional NFL games for coming season

Fox reported a strong Q3 with record EBITDA, driven by healthy underlying ad trends and Fox One outperformance. Management signaled a robust upfront and provided positive color on the upcoming World Cup's financial contribution. Total company revenue was $4B, with EBITDA up 11% to $954M. Adjusted EPS of $1.32 beat expectations.

Buzzberg 분석 Fox acquires two additional NFL games for coming season Fox reported a strong Q3 with record EBITDA, driven by healthy underlying ad trends and Fox One outperformance. Management signaled a robust upfront and provided positive color on the upcoming World Cup's financial contribution. Total company revenue was $4B, with EBITDA up 11% to $954M. Adjusted EPS of $1.32 beat expectations. 전체 분석 보기분석 접기

Fox reported a strong Q3 with record EBITDA, driven by healthy underlying ad trends and Fox One outperformance. Management signaled a robust upfront and provided positive color on the upcoming World Cup's financial contribution. Total company revenue was $4B, with EBITDA up 11% to $954M. Adjusted EPS of $1.32 beat expectations.

  • Ex-Super Bowl, ad revenue grew double digits; Fox News saw record Q3 ad revenue. Management described the advertising market as healthy with strong scatter pricing.
  • Fox One exceeded expectations, with low churn and news driving over half of viewership.
  • The company acquired rights to two additional NFL games, signaling a strong relationship with the league despite public speculation of tension.
Revenue $3.994B -23% QoQ
EPS $1.32 reported
Gross margin 37.56% reported
Op margin 20.06% reported

이번 분기에 달라진 점

01
Sports Rights

Fox acquires two additional NFL games for coming season

Fox reported a strong Q3 with record EBITDA, driven by healthy underlying ad trends and Fox One outperformance. Management signaled a robust upfront and provided positive color on the upcoming World Cup's financial contribution.

02
Guidance

Record third quarter EBITDA, up 11%

Guidance tone

03
Advertising

Advertising momentum continues into fiscal Q4

Ex-Super Bowl, ad revenue grew double digits; Fox News saw record Q3 ad revenue. Management described the advertising market as healthy with strong scatter pricing.

04
Pricing Power

Fox News CPMs up over 45% with new clients

Fox One exceeded expectations, with low churn and news driving over half of viewership.

수요

수요

수주 및 전환

Management expressed strong confidence in the business, citing record EBITDA, robust advertising trends, outperformance at Fox One, and a healthy upfront market.

톤 · Confident

Management repeatedly highlighted strong momentum, record EBITDA expectations, and outperformance across key segments, conveying a confident outlook.

공급망 알파

A1

Fox One is seeing very low churn entering the summer sports lull, with over half of Q3 viewership being news, indicating it is being adopted as a utility rather than a sports-seasonal add-on.

FOX
“we have seen very little churn, much lower churn than we had expected. ... over half of the viewership on Fox 1 is news viewership.”
Lachlan Murdoch

기업 영향 분석

FLUT
+2.9%
발표 이후
$99.15→$101.98
파트너

Fox reaffirmed its stake and option in Flutter/FanDuel, expressing continued bullishness on the FanDuel business with no mention of monetization.

“We retain our 2.5% equity stake in Flutter and our 18.6% option in FanDuel. We have over four years to exercise that option.”
Lachlan Murdoch
FOX
—
발표 이후
—→—
공급망공급망 알파

Fox One is seeing very low churn entering the summer sports lull, with over half of Q3 viewership being news, indicating it is being adopted as a utility rather than a sports-seasonal add-on.

Lachlan Murdoch