Fox FY2026: record $17.13 billion revenue, adjusted EPS up to $5.42
Fox closed fiscal 2026 with record revenue of $17.13 billion and record adjusted EBITDA of $3.91 billion, but GAAP earnings fell as a $773 million non-operating charge hit the bottom line. The view is Bullish, because the core beat the $1.45 consensus on both GAAP and adjusted fourth-quarter EPS. Read the adjusted numbers and the cash flow statement together, since the fourth quarter's 28.1% revenue jump leans on a one-time World Cup broadcast.
1 · Expected vs. Actual
Free preview belowFourth-quarter GAAP EPS of $1.61 came in above the $1.45 consensus estimate, and adjusted EPS of $1.79 beat it by even more. For the full year the two measures tell opposite stories: GAAP EPS fell to $3.84 from $4.91, while adjusted EPS rose to $5.42 from $4.78. The $773 million non-operating other, net item is what separates them — strip it out and the year looks better, keep it in and it looks worse.
Full-year revenue reached $17.13 billion, up 5.1% from $16.30 billion, and the fourth quarter was the standout at $4.21 billion, up 28.1%. Every segment grew in the quarter: Television jumped 45.4% to $2.48 billion and Cable Network Programming rose 9.0% to $1.67 billion, with a $101 million eliminations drag reconciling the parts to the total. That growth is unusually narrow, because one World Cup broadcast sits inside the broadcast and cable advertising lines.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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