Fox advertising jumps 47% as quarterly revenue reaches $4.57 billion
Fox reported quarterly revenue of $4.57 billion, up 22%, as advertising rose 47% on the World Cup, midterm political spending and Tubi.
Fox Corporation reported record quarterly revenue of $4.57 billion in the first quarter of fiscal 2027, up 22% year on year and above analysts' $4.29 billion estimate. Growth was driven by the FIFA World Cup, political advertising in a midterm year and Tubi's performance.
Advertising revenue rose 47% across the group. In the television segment, advertising revenue increased 60% on the World Cup, political ads and Tubi's digital growth, while segment revenue rose 32% to $2.71 billion. Cable Network Programming revenue rose 8% to $1.8 billion.
Tubi revenue grew 35% and viewing time rose 23%. The company said Tubi generated about $50 million in revenue, in addition to more than $60 million in national political advertising across Fox's sports, news and entertainment offerings.
Lachlan Murdoch, chief executive, said Fox began fiscal 2027 with record revenue and adjusted EBITDA, driven by advertising and distribution growth. Separately, Fox shareholders approved a proposed $22 billion acquisition of Roku in mid-October.
What do these terms mean?
Adjusted EBITDA: A profitability measure that excludes interest, taxes, depreciation and some non-recurring items.
Midterm year: A year in which US congressional elections are held, when political advertising spending rises.
Free ad-supported streaming (FAST): A free streaming service funded by advertising rather than a monthly subscription.
Weekly Newsletter
Read between the lines before everyone else. Decode the most important economic, tech, and decision-maker movements in the region.. in 5 minutes every Saturday.
