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Fox Corp. Beats Expectations with $5.2 Billion Revenue

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  Published in Media and Entertainment on Wednesday, February 4th 2026 at 23:11 GMT by NY Post
      Locales: UNITED STATES, UNITED KINGDOM

New York, NY - February 5th, 2026 - Fox Corporation today announced a surprisingly robust financial quarter, reporting $5.2 billion in revenue, exceeding analyst expectations. The results, released this morning, paint a picture of a media company successfully leveraging strong performance in key areas while simultaneously grappling with the ongoing challenges of a rapidly evolving media landscape. While the headline numbers are positive, a closer look reveals a complex situation for the Murdoch-owned entity.

This quarter's revenue represents a significant win for Fox, demonstrating the company's ability to adapt, at least in the short term, to the dramatic shifts in how people consume content. The key driver of this success appears to be a resurgence in advertising revenue, fueled primarily by two powerful forces: live sports and the upcoming 2026 midterm elections. Major sporting events - including the continued strong ratings for the NFL on Fox, and the build-up to the FIFA World Cup scheduled for late 2026 - are commanding premium advertising rates. Political advertising, as expected, is also contributing substantially, with campaigns already pouring money into securing airtime on Fox News and related platforms. Analysts at Media Insights Group note that Fox's ability to capitalize on these cyclical boosts is crucial to its performance, but caution that reliance on these alone is unsustainable long-term.

However, the rosy picture is tempered by a persistent decline in subscription revenue. Despite strong overall figures, Fox continues to feel the sting of "cord-cutting," the phenomenon where viewers abandon traditional cable and satellite television subscriptions in favor of streaming services. While the rate of cord-cutting has slowed somewhat, it remains a significant headwind for companies like Fox that rely heavily on affiliate fees - the payments made by cable and satellite providers to broadcast their channels. The company reports a steady erosion of linear TV subscribers, despite attempts to bundle services and offer digital add-ons. This trend, combined with increasing competition from streaming giants like Netflix, Disney+, and emerging players, highlights the urgent need for Fox to accelerate its transition to a more diversified digital revenue model.

Profit per share also saw an increase, jumping to 65 cents from 53 cents a year ago. This improvement, however, is partially attributed to cost-cutting measures implemented throughout the corporation, including streamlining operations and reducing headcount in certain departments. While these measures have boosted profitability in the short term, some industry observers worry about the long-term impact on innovation and content creation.

Looking ahead, Lachlan Murdoch, CEO of Fox Corporation, acknowledged the challenges that lie ahead. In a prepared statement, Murdoch stated, "We continue to navigate a challenging advertising market, and our results reflect the impact of cord-cutting on our affiliate revenues." He also hinted at the ongoing economic uncertainty impacting advertising spend. The company's guidance for the next quarter is cautious, reflecting the expectation of continued headwinds from both the macroeconomic environment and the ongoing disruption of the traditional media industry.

The Streaming Gamble & Digital Future

Fox's response to the cord-cutting crisis has been to invest in its streaming service, Fox Nation, and expand its digital offerings. However, Fox Nation has struggled to gain significant traction in the crowded streaming market. While it boasts a dedicated, politically-aligned subscriber base, its overall numbers pale in comparison to its larger competitors. The company is now reportedly exploring strategic partnerships and potential acquisitions to bolster its streaming capabilities and expand its content library. Recent speculation suggests Fox is considering a bid for a smaller, niche streaming service specializing in documentary content, hoping to attract a more diverse audience.

The company is also heavily investing in its digital news platforms, including FoxNews.com and the Fox Sports app, aiming to capture a larger share of the digital advertising market. This involves increasing investment in data analytics to better target advertising and personalize content for users. However, competing with tech giants like Google and Facebook for digital ad dollars is a formidable challenge.

Analysts' Take

"Fox is demonstrating resilience, but they're walking a tightrope," says Michael Thompson, Senior Analyst at Horizon Research. "They're doing a good job of maximizing revenue from their existing assets, but their long-term survival depends on successfully transitioning to a digital-first strategy. They need to find a way to not just stem the tide of cord-cutting, but to actively attract new subscribers to their digital platforms." Shares of Fox Corporation were up more than 2% in premarket trading Thursday, indicating investor optimism, but the long-term outlook remains far from certain.