The FIFA Men's World Cup turned out to be a massive financial win for Fox Corporation. The company reported $4.21 billion in revenue for its fiscal fourth quarter, ended in June, a 28 percent jump from the same period a year ago. Analysts had expected around $3.64 billion, according to Yahoo Finance.
According to reports by Variety, Deadline, The Hollywood Reporter, and The Wrap, advertising revenue was the headline number. Ad sales surged 78 percent overall during the April-June quarter, and within the television division specifically, which includes both Fox and Tubi, ad revenue shot up 108 percent to $755 million. Total ad revenue across the company hit $1.9 billion, up from $1.1 billion a year ago.
Fox CEO Lachlan Murdoch called it a standout year in a letter to shareholders. "Fiscal 2026 was an exceptional year for FOX, capped by our broadcast of a remarkable FIFA Men's World Cup," Murdoch said. "We successfully launched our direct-to-consumer streaming service, FOX One, continued to keep America informed across a dynamic news cycle, enhanced Tubi's position as a leading streaming service, and announced the acquisition of Roku which will transform the scope and growth profile of our company. Financially, these milestones were underpinned by the delivery of record top-line revenue which converted into record EBITDA. With strong momentum across our portfolio, we enter fiscal 2027 exceptionally well positioned to drive sustained growth and long-term shareholder value."
The World Cup boost was not limited to the quarter. For the full 2026 fiscal year, Fox reported $17.13 billion in total revenue, a 5 percent increase over the prior year. Annual advertising revenue rose 7 percent, though the gains were partially offset by the absence of the Super Bowl, which Fox carried last year but moved to NBC this cycle, and by lower political advertising revenue compared to an election year.
Distribution revenue for the quarter increased 5 percent, led by 7 percent growth at the cable network programming segment. Content and other revenue slipped slightly, dropping from $269 million to $262 million, due to the timing of sports sublicensing payments. Cable network programming revenue for the quarter rose 9 percent to $1.67 billion.
Despite the revenue surge, net income for the quarter dipped 3 percent year over year to $696 million. Adjusted EBITDA came in at $1.2 billion, up 27 percent. Earnings per share for the quarter were $1.61, compared to the $1.38 analysts had forecast.
One major strategic development came in June, when Fox announced a definitive agreement to acquire streaming platform Roku for $22 billion in a cash-and-stock deal. Murdoch has framed the acquisition as a move that will expand the company's digital footprint significantly, particularly around Tubi. During a call with analysts, Murdoch also said Fox would not be making any changes to its current NFL deal until the pact expires after the 2029 season.
The World Cup's financial impact is expected to carry into Fox's next earnings report as well, with some of the revenue effects likely to spill over into the fiscal first quarter.
