Lachlan Murdoch Michael Cohen/Getty Images Share on Facebook Share on X Share to Flipboard Send an Email Show additional share options Share on LinkedIn Share on Pinterest Share on Reddit Share on Tumblr Share on Whats App Print the Article Post a Comment Fox topped Wall Street's expectations for its fiscal first quarter of 2026, despite a profit decline. News, Tubi and the NFL were the usual bright spots for this time of year, carrying advertising revenue to a six percent increase. Content ("and other") revenues doubled that growth on a percentage basis. On a conference call following the earnings release, Fox executive chair and CEO Lachlan Murdoch announced that standout AVOD/FAST platform Tubi reached quarterly profitability in fiscal Q1 2026, earlier than expected. Related Stories Business SiriusXM Reports 33 Million Subscribers, Beats Wall Street Expectations Business Xbox Console Sales Sink 29 Percent in Quarter Sandwiched Between Two Price Hikes Media analysts expected Fox would post quarterly earnings of $1.10 per share on $3.57 billion in revenue. Fox actually reported adjusted earnings of $1.51 per share on revenue of $3.74 billion. Net income was $609 million, down from $832 million a year ago. It's costly to have high costs: increased expenses due to larger digital marketing and content costs, as well as higher entertainment-programming rights amortization, were the culprit. Fox unveiled on Thursday that it will enter an "accelerated share repurchase transaction" to the tune of $1.5 billion beginning tomorrow, Oct. 31, 2025. Happy Halloween, FOXA and FOX (Class B) shareholders! Shares of Fox stock, trading under ticker symbol FOXA on the Nasdaq, closed Wednesday at $60.81 apiece. They're on the rise in pre-market trading. "Coming off a record Fiscal 2025, our strong operating momentum has carried through the first quarter of Fiscal 2026. We are delivering for audiences with continued engagement growth across the portfolio, which underpins the robust advertising demand we are seeing across sports, news, entertainment and Tubi," Fox's executive chair and CEO Lachlan Murdoch said in a statement. "The quality of our assets and their consistent capacity to deliver financially gives me great confidence in the positive outlook for Fox. This morning's announcement to leverage the strength of our balance sheet with a $1.5 billion accelerated share repurchase transaction clearly underscores this confidence along with our commitment to creating value for our shareholders." The fiscal start to Fox's 2026 was the quarter when Murdoch really, really, officially became the sole steward of the company - and of News Corp. - last month, he and his family settled their very rich family trust. Murdoch's siblings, James Murdoch, Elisabeth Murdoch and Prudence MacLeod, all (also) the children of Rupert Murdoch, will each receive about $1.1 billion funded in part by the sale of the companies' stock. Fox debuted new streamer Fox One midway into the quarter, which spanned July-September 2025. Combining the programming of Fox News and Fox Sports, Fox One costs $19.99 per month or can be combined with the new ESPN app ($29.99/month) for $39.99/month. On the Q1 2026 call, Lachlan Murdoch said early Fox One adoption has "exceeded expectations," with news programming dominant in weekday viewing and sports running the table on weekends. THR Newsletters Sign up for THR news straight to your inbox every day Subscribe Sign Up Comcast Comcast C-Suite Shuffle: Steve Croney to Succeed Dave Watson at Platforms Business siriusxm SiriusXM Reports 33 Million Subscribers, Beats Wall Street Expectations Peacock Peacock Posts $217 Million Loss as Subscribers Remain Unchanged at 41 Million Paramount Animation Paramount Animation President Ramsey Naito Exits Studio YouTube YouTube to Offer Voluntary Buyouts to Employees Amid AI Disruption THR, Esq YouTube, Disney Settle Lawsuit Over Exec Poaching Comcast Comcast C-Suite Shuffle: Steve Croney to Succeed Dave Watson at Platforms Business siriusxm SiriusXM Reports 33 Million Subscribers, Beats Wall Street Expectations Peacock Peacock Posts $217 Million Loss as Subscribers Remain Unchanged at 41 Million Paramount Animation Paramount Animation President Ramsey Naito Exits Studio YouTube YouTube to Offer Voluntary Buyouts to Employees Amid AI Disruption THR, Esq YouTube, Disney Settle Lawsuit Over Exec Poaching