Fox Corporation released its fiscal Q3 2026 earnings this morning, reporting revenue of $3.99 billion, net income of $175 million, and adjusted EBITDA of $954 million for the quarter ended March 31, 2026. The stock moved higher in conjunction with the earnings release as investors reacted to the quarter’s reported results and profitability.

The company indicated that content and other revenue increased 12%, primarily attributed to higher sports sublicensing revenue. It also highlighted continued digital growth led by the Tubi AVOD service, helping offset year-over-year advertising comparisons that reflected the absence of the prior-year Super Bowl broadcast.

Today’s move aligns with an earnings-driven re-pricing: a fresh, dated financial release can immediately change expectations for near-term cash generation and segment momentum. The combination of reported results and specific drivers (sports sublicensing and Tubi-led digital growth) provides a concrete same-day catalyst rather than a purely technical or broad-market explanation.