Fox (FOX) Q2 FY2026 earnings: revenue $5.2 billion, up 2.0% on the year
Fox Corp. (FOX) reported revenue of $5.2 billion for Q2 FY2026, the quarter ended 31 December 2025, up 2.0% on the same quarter a year earlier. Net income was $229 million, down 38.6% on the year, and diluted earnings per share $0.52. The figures are the company's own, from the 10-Q it filed with the SEC on 4 February 2026.
Revenue
$5.2 billion
+2.0% on the year · +38.6% on the quarter
Q3 FY2024Q2 FY2026
Operating margin
n/a
Q3 FY2024Q2 FY2026
Net income
$229 million
-38.6% on the year · -61.8% on the quarter
Q3 FY2024Q2 FY2026
Diluted EPS
$0.52
-35.8% on the year · -60.6% on the quarter
Q3 FY2024Q2 FY2026
this quarterthe same quarter a year earlierHover a bar for its figure.
What management said
Revenue rose 2% to $5.18 billion: Total revenues were $5.18 billion, up $104 million or 2%. Distribution rose 4%, advertising rose 1%, and content and other was essentially unchanged.
Net income and per-share earnings fell: Net income was $247 million against $388 million. Net income attributable to Fox stockholders was $229 million, or $0.52 per share, against $373 million, or $0.81.
Cable revenue rose 5% to $2.28 billion: Segment revenues were $2.28 billion, up $110 million. Content and other rose $25 million on higher sports sublicensing revenues.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed.
Cash flow
$ million
Q2 FY2026
Q1 FY2026
Q2 FY2025
On the quarter
On the year
Last 8 quarters
Operating cash flow
-669
-130
-362
Capital expenditure
122
104
74.0
+17.3%
+64.9%
Free cash flow
-791
-234
-436
Free cash flow margin
-15.3%
-6.3%
-8.6%
Cash from investing
-138
-255
-162
Cash from financing
-1,544
-598
-206
Depreciation and amortisation
100
98.0
97.0
+2.0%
+3.1%
Share-based compensation
32.0
28.0
34.0
+14.3%
-5.9%
Buybacks
1,550
250
250
+520.0%
+520.0%
Dividends paid
9.0
138
3.0
-93.5%
+200.0%
Diluted shares, weighted
441m
455m
462m
-3.1%
-4.5%
Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.
Balance sheet
$ million
Q2 FY2026
Q1 FY2026
Q2 FY2025
On the quarter
On the year
Last 8 quarters
Shareholders' equity
10,928
12,208
11,495
-10.5%
-4.9%
Non-controlling interest
110
103
116
+6.8%
-5.2%
Redeemable equity
84.0
81.0
200
+3.7%
-58.0%
Debt
6,604
6,603
7,200
+0.0%
-8.3%
Operating lease liabilities
849
808
852
+5.1%
-0.4%
Other liabilities
2,896
2,963
3,159
-2.3%
-8.3%
Total liabilities and equity
21,471
22,766
23,022
-5.7%
-6.7%
Fixed assets
1,739
1,705
1,671
+2.0%
+4.1%
Goodwill
3,638
3,637
3,543
+0.0%
+2.7%
Intangible assets
2,951
2,960
3,020
-0.3%
-2.3%
Investments
1,489
1,635
1,517
-8.9%
-1.8%
Cash and equivalents
2,017
4,368
3,322
-53.8%
-39.3%
Receivables
3,557
2,810
3,492
+26.6%
+1.9%
Inventory
828
509
1,171
+62.7%
-29.3%
Other assets
5,252
5,142
5,286
+2.1%
-0.6%
Total assets
21,471
22,766
23,022
-5.7%
-6.7%
Questions
What was Fox's revenue in Q2 FY2026?
Fox (FOX) reported revenue of $5.2 billion for Q2 FY2026, the quarter ended 31 December 2025, up 2.0% on the same quarter a year earlier.
How much did Fox earn in Q2 FY2026?
Net income for Q2 FY2026 was $229 million, down 38.6% on the year, and diluted earnings per share $0.52.
When did Fox report Q2 FY2026 results?
Fox filed its 10-Q for the quarter ended 31 December 2025 with the SEC on 4 February 2026.
Each quarter as filed, linked to its filing. Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.
10-Q for the period ended 31 December 2025, filed 4 February 2026: the filing.