Fox Corp F3Q26 Earnings First Take

Fox Corp. reported a substantial F3Q26 EBITDA beat of $954 million versus the $745 million consensus, driven by advertising strength in both Cable and TV. Goldman Sachs maintains a Buy rating with a $75 price target.

Key Takeaways

• 1.Fox Corp reported F3Q26 EBITDA of $954 million, beating consensus estimates of $745 million by 28%.
• 2.Revenue of $3.99 billion exceeded consensus of $3.8 billion, driven by both Cable Network Programming and Television segments.
• 3.The outperformance was largely driven by stronger-than-expected advertising and distribution fees, with potential benefit from Fox News ratings and Tubi performance.

Table of Contents

• Key takeaways
• Actuals vs. estimates
• Rating, price target, valuation, and key risks
• Disclosure Appendix
• Reg AC
• GS Factor Profile
• M&A Rank
• Quantum
• Disclosures
• Company-specific regulatory disclosures
• Distribution of ratings/investment banking relationships
• Price target and rating history chart(s)
• Target price history table(s) Fox Corp. (FOXA)
• Regulatory disclosures
• Ratings, coverage universe and related definitions
• Global product; distributing entities
• General disclosures

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