Fox Corporation sees an increase in ad revenue due to strong news and sports programming.

Fox Co., Ltd. Reports Strong Q2 Earnings

Fox Co., Ltd. announced its second-quarter earnings on Wednesday, which surpassed analysts’ predictions. The boost was largely attributed to increased advertising revenue from both its news network and sports programming.

For the second quarter of Fiscal 2026, revenue rose by 2% compared to the previous year, exceeding LSEG’s forecast of $5.06 billion. Distribution revenue also saw a 4% increase during this period, mainly driven by a 5% growth in Fox’s cable network programming segment.

Advertising revenue went up by 1%, mainly due to higher ad rates for sports and news content. The addition of Major League Baseball postseason games and an increase in digital growth, particularly from Tubi—the company’s free ad-supported streaming platform—contributed positively. However, this growth was partially mitigated by a decrease in political advertising revenue and lower viewership ratings.

Revenue and Advertising Performance

Fox’s cable programming—which includes the Fox News Channel, FOX Business Network, and several cable sports networks—experienced a revenue increase of 5%, bringing in $2.28 billion, while advertising revenue surged about 7%.

CEO Lachlan Murdoch emphasized the company’s efforts to meet audiences across various platforms, stating that the past year’s dynamic news environment has solidified Fox News Media’s leadership as more viewers are drawn to their live coverage and thorough analysis.

Murdoch noted that Fox News retained its status as the most-watched cable network over a full day, holding its position as the leading cable news network and generating the top 11 cable news programs. According to Nielsen data, Fox News leads among viewers from all three political parties, which could influence future political engagements.

Digital Growth and Strategy

On the digital side, views on Fox News Digital’s social media platforms surged by a remarkable 170% year-over-year. Both Fox News and FOX Business ranked first among their competitors for YouTube video views in the quarter.

Murdoch shared that Tubi experienced its highest streaming figures to date, with an expanded content lineup. The platform has been actively promoting features like NFL games, especially around Thanksgiving.

Additionally, the new Fox streaming service, Fox One, completed its first full quarter after launching in August. Murdoch reported no noticeable cannibalization of traditional subscriptions so far, as they aim to attract cord-cutters with the platform’s offerings. He mentioned that live sports events are driving much of the engagement, with news content accounting for a significant portion of viewing time and attracting more frequent users compared to non-news content.