Midterm Elections and FIFA World Cup Power Record-Breaking Quarter for Fox Corp.

Fox Corp. reported record revenue for its fiscal first quarter, helped by advertising linked to the 2026 US midterm elections and the FIFA World Cup. Revenue rose 22 per cent year on year to $4.57 billion, while net income increased to $957 million from $609 million.

Advertising revenue climbed 47 per cent, with political advertising exceeding $350 million, a record for a midterm cycle. More than $250 million came from local stations, and about $50 million each from Tubi and Fox’s national networks; the quarter also included the World Cup final, MLB playoffs and the start of the NFL season. Fox said cable distribution revenue reached $1.2 billion and TV advertising revenue topped $1.7 billion, while CEO Lachlan Murdoch attributed lower Fox News viewing partly to audience fatigue.