Fox Corporation Posts Record Q1 Revenue of $4.57 Billion Driven by FIFA World Cup and Political Advertising Surge

Fox Corporation reported first-quarter fiscal 2027 results on November 2, with revenue of $4.57 billion and adjusted EBITDA of $1.64 billion, both first-quarter records for the company. Adjusted net income attributable to Fox stockholders rose to $1.09 billion, or $2.54 per share, up sharply from $686 million, or $1.51 per share, a year earlier, beating analyst estimates by $0.48 per share. Reported net income came in at $943 million, or $2.20 per share, compared with $599 million, or $1.32 per share, in the prior-year quarter.

Advertising revenue surged 47% year over year, fueled by Fox's broadcast of the FIFA Men's World Cup, higher political advertising spending, and continued digital growth at its Tubi AVOD streaming service. Distribution revenue rose 9%, with the Cable Network Programming segment up 10% and the Television segment up 4%. Shares of FOXA rose roughly 3.9% in premarket trading following the release.