Fox Corp Reports Strong Q2 Earnings with Record Ad Revenue
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 03 2026
0mins
Should l Buy FOX?
Source: Fool
Fox Corp's stock fell 3.13% as it hit a 20-day low amid a broader market decline, with the Nasdaq-100 down 2.24% and the S&P 500 down 0.89%.
The company reported a 2% year-over-year revenue growth in Q2 2026, reaching $5.18 billion, which exceeded Wall Street's expectations. Adjusted net income was $360 million, surpassing analyst estimates, despite a decline from the previous year. The strong performance was driven by record advertising revenue, particularly from sports events, and a robust growth in its Tubi streaming service, indicating a solid recovery in the advertising market and reinforcing Fox's leadership in the media industry.
This positive earnings report, coupled with a stock buyback program of approximately $1.55 billion, reflects Fox's confidence in its financial stability and future growth potential, despite the current market challenges.
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Analyst Views on FOX
About FOX
Fox Corporation produces and distributes news, sports, and entertainment content through its primary domestic brands, including FOX News Media, FOX Sports, FOX Entertainment, FOX Television Stations and Tubi Media Group. Its operating segments include Cable Network Programming, Television, Credible and the FOX Studio Lot. Cable Network Programming produces and licenses news and sports content distributed through traditional cable television systems, direct broadcast satellite operators and telecommunication companies, virtual multi-channel video programming distributors and other digital platforms. Television produces, acquires, markets and distributes programming through the FOX broadcast network, advertising supported video-on-demand service Tubi, approximately 29 full power broadcast television stations, including 11 duopolies, and other digital platforms. The FOX Studio Lot provides television and film production services. Credible is a United States consumer finance marketplace.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Earnings Pressure: BofA noted that even in a best-case scenario, NFL renewals would dilute earnings power for several affected media companies, indicating a structurally worsening bargaining dynamic that threatens traditional media's long-term trajectory.
- Price Target Cut: BofA slashed the price targets for both FOX and FOXA from $80 to $45, implying potential downsides of 11.5% and 18.7%, respectively, reflecting market concerns over their future profitability.
- Market Reaction: Ahead of the market opening, FOX shares fell by 4.1% and FOXA by 3.6%, indicating investor sensitivity to the downgrade and the risks associated with NFL rights negotiations.
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- Market Reaction Insight: While specific rating changes are not detailed, analysts' opinions typically influence investor decisions, potentially leading to stock price fluctuations.
- Investor Focus: For those considering buying FSLR stock, analysts' insights will serve as a crucial reference point, likely impacting their investment strategies.
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See More
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- Advertising Growth Catalysts: The upcoming FIFA World Cup programming and midterm election cycle are expected to serve as catalysts for advertising growth at Fox, further driving revenue, particularly in the sports and news sectors.
- Strong Streaming Performance: The robust performance of Fox's Tubi streaming platform, combined with its sports betting assets, supports a positive outlook for the company, demonstrating success in diversifying revenue streams.
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