Fox Corporation reported adjusted earnings of $0.82 per share for the quarter ended December 31, 2025, exceeding the consensus estimate of $0.51 per share. This result compares to $0.96 per share in the year-ago period. Total revenues reached $5.18 billion, up $104 million or 2% from the prior year quarter. Distribution revenues rose 4% to $2.00 billion, driven by growth in the Cable Network Programming segment. Advertising revenues climbed 1% to $2.46 billion, bolstered by higher pricing in sports and news and digital gains on the Tubi platform. Content and other revenues held steady at $725 million.

Cable Network Programming revenues totaled $2.28 billion, up 5% year-over-year, lifting segment EBITDA to $687 million, a 5% increase driven by stronger distribution fees and higher sports sublicensing revenues. Television segment revenues were $2.94 billion, roughly flat with the prior period, as growth in digital AVOD and additional postseason games offset lower political ad spend and ratings declines. Television segment EBITDA declined to $143 million from $205 million, reflecting higher sports programming amortization and production costs as well as increased digital marketing expenses.

Fox reported quarterly net income of $247 million versus $388 million a year earlier. Net income attributable to stockholders was $229 million, or $0.52 per share, compared with $373 million, or $0.81 per share in the prior period. Adjusted net income was $360 million, down from $442 million. Adjusted EBITDA for the quarter was $692 million, versus $781 million a year ago. The board declared a $0.28 per share dividend payable on March 25, 2026, and during the quarter repurchased $750 million of Class A shares and $800 million of Class B shares, leaving $3.6 billion available under the repurchase authorization.