Modest Revenue Growth
FOX generated $5.18B in revenue for Q2 FY2026, a 2.0% increase compared to $5.08B in the prior-year period, suggesting steady top-line performance despite a challenging media environment.
Source: 10-Q Income Statement
Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
FOX Corporation reported Q2 FY2026 revenue of $5.18B (+2.0% YoY), but EPS fell sharply to $0.52 (-35.8% YoY) while the company deployed $1.8B in share buybacks year-to-date, reflecting significant capital return activity alongside rising costs.
Revenue
$5.18B
+2.05% YoY
EPS (Diluted)
$0.52
-35.80% YoY
Filed · Analysis updated · Source: SEC EDGAR 10-Q filing
Source: SEC XBRL
Fox (FOX) reported Q2 FY2026 revenue of $5.18B, up 2.0% year over year. FOX's fiscal Q2 FY2026 corresponds to calendar Q4 2025.
Last 4 quarters: 4 beats
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Jun 2026 | 1.79 | 1.45 | Beat +23.3% |
| Mar 2026 | 1.32 | 0.99 | Beat +33.9% |
| Dec 2025This filing | 0.82 | 0.51 | Beat +61.7% |
| Sep 2025 | 1.51 | 1.10 | Beat +37.4% |
Adjusted (non-GAAP) EPS of $0.82 versus the $0.51 analyst consensus — a +61.7% beat for Dec 2025. Analyst consensus is quoted on the adjusted (non-GAAP) basis the street uses. GAAP diluted EPS for this quarter was $0.52.
Compiled by AI from this SEC filing
FOX generated $5.18B in revenue for Q2 FY2026, a 2.0% increase compared to $5.08B in the prior-year period, suggesting steady top-line performance despite a challenging media environment.
Source: 10-Q Income Statement
Basic EPS dropped 35.4% YoY to $0.53 from $0.82, and diluted EPS fell 35.8% to $0.52 from $0.81, indicating that net income declined materially even as revenue grew modestly — likely driven by higher costs and/or non-operating items.
Source: 10-Q Income Statement
Selling, General & Administrative expenses rose 13.3% YoY to $595M from $525M, outpacing revenue growth of 2.0% and compressing profitability margins during the quarter.
Source: 10-Q Income Statement
FOX repurchased $1.8B in shares on a fiscal year-to-date basis through Q2 FY2026, a 260% increase versus $500M in the same prior-year period, which significantly drove financing cash outflows of -$2.14B YTD.
Source: 10-Q Cash Flow Statement
Year-to-date operating cash flow was -$799M compared to -$204M in the prior-year period, a 291.7% deterioration, suggesting working capital headwinds or timing differences in cash collections and payments during the first half of FY2026.
Source: 10-Q Cash Flow Statement
Compiled by AI from this SEC filing · 2 high, 3 medium, 0 low
EPS declined 35.8% YoY even as revenue grew 2.0%, indicating that cost growth — particularly SG&A up 13.3% — is significantly outpacing revenue. If this trend continues, profitability could erode further and pressure the stock's valuation multiples.
Source: 10-Q Income Statement
Year-to-date operating cash flow of -$799M represents a sharp deterioration from -$204M in the prior-year period. Sustained negative operating cash flow could limit FOX's ability to fund operations, investments, and capital returns without drawing on existing cash reserves or debt.
Source: 10-Q Cash Flow Statement
FOX deployed $1.8B in share buybacks and $147M in dividends YTD, totaling nearly $1.95B in capital returns against a backdrop of negative operating cash flow. This pace of capital return is being funded by balance sheet cash rather than earnings, which reduced current assets by 18.3% YoY to $6.73B.
Source: 10-Q Cash Flow Statement & Balance Sheet
Total assets fell 6.7% YoY to $21.47B and stockholders' equity declined 4.9% to $10.93B, reflecting the drawdown of cash for buybacks and other uses. A shrinking equity base increases financial leverage over time.
Source: 10-Q Balance Sheet
Long-term debt stands at $6.60B, essentially flat YoY, while equity has declined, meaning the debt-to-equity ratio has effectively increased. In a rising-cost environment, servicing this debt load could become a more significant burden on free cash flow.
Source: 10-Q Balance Sheet
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue $B | 5.18 $B | 5.08 $B | +2.05% |
EPS (Basic) $ | 0.53 $ | 0.82 $ | -35.37% |
EPS (Diluted) $ | 0.52 $ | 0.81 $ | -35.80% |
SG&A Expense $M | 595.00 $M | 525.00 $M | +13.33% |
Answers draw on this SEC filing and the data on this page
FOX Corporation reported Q3 FY2026 revenue of $3.99B, down 8.6% YoY, with EPS falling nearly 49% to $0.38, while the company aggressively returned capital via $1.9B in share buybacks year-to-date.
Fox Corporation announced a deal to acquire Roku while revenue grew on sports and digital, but net income declined 26% due to a $773 million non-operating loss.
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