FOX (NASDAQ:FOX) Issues Earnings Results

FOX (NASDAQ:FOX) issued its earnings results on Monday. The company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.33, FiscalAI reports. The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.78 billion. FOX had a return on equity of 18.14% and a net margin of 11.41%.

Here are the key takeaways from FOX’s conference call:

• Record quarter: Fox reported $4.0B revenue and adjusted EBITDA of $954M (up 11%), adjusted EPS of $1.32 (up 20%), and generated $1.77B of free cash flow while continuing sizable share buybacks.
• Digital momentum: Fox One subscriber additions and unexpectedly low churn boosted distribution revenue and helped stabilize overall subscriber declines, while Tubi grew revenue 23%, view time 19% and was near break-even in the quarter.
• Audience and advertising strength from news and sports: Fox News hit its highest Q3 ad revenue ever and is the top cable network (CPMs up >45%), and sports franchises (World Baseball Classic, MLB, IndyCar, NFL) posted strong ratings with Fox adding two national NFL games and preparing for an EBITDA-accretive FIFA World Cup window.
• Headline advertising decline and segment pressures: Total advertising was down 24% year-over-year driven by the lapping of Super Bowl LIX, TV distribution was roughly flat (down 1%), and cable expenses rose due to higher sports rights amortization—factors that temper near-term comparables.

FOX Trading Up 8.1%

NASDAQ FOX opened at $61.18 on Tuesday. The company has a market cap of $26.03 billion, a price-to-earnings ratio of 14.71, a P/E/G ratio of 6.93 and a beta of 0.54. FOX has a 52 week low of $48.38 and a 52 week high of $68.18. The business has a 50 day moving average price of $54.63 and a 200-day moving average price of $58.34. The company has a quick ratio of 2.44, a current ratio of 2.78 and a debt-to-equity ratio of 0.60.

Analysts Set New Price Targets

A number of brokerages have weighed in on FOX. Zacks Research downgraded FOX from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 5th. Bank of America reiterated an “underperform” rating and issued a $45.00 target price (down from $80.00) on shares of FOX in a report on Wednesday, February 25th. Finally, Wells Fargo & Company downgraded shares of FOX from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 5th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $75.00.

More FOX News

Here are the key news stories impacting FOX this week:

• Positive Sentiment: Fox beat quarterly earnings and revenue estimates, which typically supports the stock. Earnings Report and Conference Call
• Positive Sentiment: Management said sports, news, and Tubi streaming helped offset the lack of Super Bowl advertising, suggesting the underlying business remains resilient. Fox Q3 Fiscal 2026 Results
• Positive Sentiment: Fox also said it acquired rights to two additional regular-season NFL games, strengthening its sports lineup and future ad inventory. Fox Takes Rights To Two More NFL Games
• Neutral Sentiment: Revenue declined year over year because the prior period included Super Bowl-related advertising, so comparisons were harder this quarter. Fox Revenue Falls on Lack of Super Bowl Broadcast
• Neutral Sentiment: Analysts remain cautious overall, with at least one recent note keeping a Hold rating amid valuation and macro uncertainty. Analyst Rating Update

Insider Activity at FOX

In other FOX news, COO John Nallen sold 216,806 shares of FOX stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $57.68, for a total transaction of $12,505,370.08. Following the transaction, the chief operating officer directly owned 362,206 shares of the company’s stock, valued at $20,892,042.08. The trade was a 37.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Lachlan K. Murdoch sold 637,752 shares of FOX stock in a transaction on Friday, March 13th. The stock was sold at an average price of $58.20, for a total transaction of $37,117,166.40. Following the transaction, the chief executive officer directly owned 152 shares in the company, valued at $8,846.40. This represents a 99.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 1,586,871 shares of company stock valued at $91,893,926. Corporate insiders own 23.06% of the company’s stock.

Institutional Investors Weigh In On FOX

Institutional investors have recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. grew its position in FOX by 336.9% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 616 shares of the company’s stock worth $35,000 after purchasing an additional 475 shares in the last quarter. Geneos Wealth Management Inc. grew its position in FOX by 95.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,442 shares of the company’s stock worth $76,000 after purchasing an additional 703 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in FOX by 130.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,300 shares of the company’s stock valued at $119,000 after purchasing an additional 1,301 shares during the period. Captrust Financial Advisors purchased a new stake in FOX during the second quarter worth about $203,000. Finally, NewEdge Advisors LLC bought a new stake in FOX in the first quarter worth about $224,000. 26.41% of the stock is owned by institutional investors.

About FOX

Fox Corporation (NASDAQ:FOX) is a U.S.-based media company that operates television broadcast, news and sports businesses. The company traces its contemporary structure to the 2019 reorganization that followed the sale of certain entertainment assets to The Walt Disney Company; Fox Corporation retained a portfolio centered on the Fox Broadcasting Company, Fox Television Stations, Fox News Media and Fox Sports. Over time the company has expanded its digital footprint through acquisitions and direct-to-consumer services, building a mix of linear and streaming distribution.

FOX’s core activities include the creation, aggregation and distribution of television programming and live sports, the operation of national cable news and business networks, and the ownership and operation of local broadcast stations.