FOX Q2 Earnings Call Highlights

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FOX (NASDAQ:FOX) executives highlighted continued operating momentum successful fiscal 2026’s 2nd quarter, pointing to broad-based spot crossed advertising, distribution, and streaming arsenic the institution lapped a prior-year play that benefited from dense governmental advertising. Management besides emphasized grounds assemblage engagement crossed sports and integer news, and provided updates connected the aboriginal show of Fox One and Tubi’s profitability.

Chief Financial Officer Steve Tomsic said Fox reported fiscal second-quarter full gross of $5.18 billion, up 2% from the prior-year quarter. Distribution gross accrued 4%, portion advertizing gross grew 1% contempt what the institution described arsenic a hard examination to past year’s grounds governmental cycle. Content and different gross was level twelvemonth implicit year, arsenic higher sports sublicensing gross was offset by little amusement contented revenue.

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Adjusted EBITDA for the 4th was $692 million, down from $781 million a twelvemonth earlier, arsenic gross maturation was offset by higher expenses. Tomsic attributed the disbursal summation to “growth-driven spend” astatine digital-led initiatives and higher sports programming and accumulation costs, partially offset by little amusement programming and accumulation costs.

Net income attributable to stockholders was $229 million, oregon $0.52 per share, compared to $373 million, oregon $0.81 per share, successful the prior-year period. Excluding non-core items, the institution reported adjusted nett income of $360 million and adjusted EPS of $0.82.

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Fox’s Cable conception posted gross of $2.28 billion and adjusted EBITDA of $687 million, with some metrics up 5% from the anterior year. Cable advertizing gross roseate 7%, which absorption attributed to higher pricing successful quality and sports. Cable organisation gross accrued 5% arsenic affiliate renewal pricing gains much than offset subscriber declines, which the institution said continued to improve. Cable contented and different gross grew 4%, chiefly owed to higher sports sublicensing revenue, offset by corresponding sports rights expenses.

The Television conception reported gross of $2.94 billion. Television advertizing gross was unchanged, arsenic maturation astatine Tubi, further MLB postseason games, and pricing spot crossed sports were offset chiefly by the lack of prior-year governmental advertising. Television organisation gross accrued 1% connected steadfast maturation successful fees crossed Fox-owned and affiliated stations, portion tv contented and different gross declined 19% owed to little amusement accumulation workplace gross tied to the timing of deliveries. Segment EBITDA was $143 million, compared to $205 million a twelvemonth earlier.