Fox Corp. reports 22% revenue growth driven by World Cup and political ads

Fox Corporation reported a 22% year-over-year increase in total quarterly revenue for its first fiscal quarter of 2027, reaching $4.57 billion. This growth was primarily driven by the FIFA Men's World Cup, record political advertising revenue during the midterm election cycle, and the continued expansion of the Tubi streaming service.

Advertising revenue rose 47% to $2.08 billion, while distribution revenue increased 9% to $2.08 billion. The company noted that political advertising spend has reached $350 million to date for the current midterm period, a record for such a cycle. The Television segment saw a 32% revenue increase, bolstered by sports programming and political spending at owned stations.

Despite the financial gains, CEO Lachlan Murdoch acknowledged recent viewership struggles at Fox News, attributing the decline to viewer fatigue. He noted that while the network is experiencing a trend similar to patterns seen during the 2006 midterms, the company remains confident in its ability to overcome the challenge.