Fox Corporation reported strong first-quarter fiscal 2027 results for the period ended September 30, 2026. Revenue rose 22% to $4.57 billion, while adjusted EBITDA increased 54% to $1.64 billion. Net income reached $957 million.
Advertising revenue climbed 47% across the company. Fox’s Television segment, which includes Tubi, recorded a 60% increase, equivalent to $641 million. The company attributed the growth mainly to the FIFA Men’s World Cup, higher political advertising linked to the election cycle and continued digital expansion led by Tubi.
Television segment revenue increased 32% to $2.71 billion, while segment EBITDA more than doubled to $934 million. Tubi made a significant contribution to the advertising improvement, although the expansion also brought higher digital content costs as Fox continued investing in the free, ad-supported streaming platform.
Distribution revenue grew 9%, supported by contractual rate increases and modest subscriber gains in the Cable Network Programming and Television segments. Cable Network Programming revenue rose 8% to $1.80 billion, with segment EBITDA up 7% to $859 million. Advertising in that segment benefited from sports coverage, including the World Cup, but was partly offset by weaker digital news advertising.
The results come as Fox moves forward with its proposed acquisition of Roku. Announced in June 2026, the cash-and-stock transaction is valued at approximately $22 billion and remains subject to regulatory approvals. The deal is expected to close in the first half of calendar 2027.
If completed, the transaction would combine Fox’s content portfolio and Tubi with Roku’s connected-TV platform, which reaches more than 100 million households, as well as The Roku Channel. Fox says the combination would support its shift toward digital distribution and advertising while maintaining Roku’s open-platform approach.
Fox One, the company’s direct-to-consumer service offering live and on-demand access to its networks, is also part of its digital portfolio. However, the company’s quarterly commentary placed greater emphasis on Tubi’s role in the advertising performance.
Higher sports rights amortization and production costs contributed to an overall increase in expenses. Fox ended the quarter with $4.54 billion in cash and cash equivalents and generated $616 million in operating cash flow. The company reported no share repurchases during the period.
The quarter highlights Fox’s strategy of combining live sports and news with free, ad-supported streaming. Tubi’s advertising growth and the pending Roku transaction reflect the company’s focus on expanding its digital and connected-TV presence.
Sources: Cord Cutters News.