Fox profit rises on World Cup and midterm ad sales as Fox News ratings drop

Fox Corp. reported fiscal first-quarter revenue of $4.57 billion, up 22%, and advertising revenue up 47%, helped by the FIFA World Cup, Tubi and midterm election spending. Profit rose to $957 million, or $2.20 a share, from $609 million, or $1.32 a share, a year earlier. Adjusted EPS was $2.54, ahead of the $2.08 analyst estimate, while revenue topped the $4.32 billion consensus. Fox said it booked a record $350 million in political advertising across its portfolio in the midterm cycle, supporting fiscal second-quarter trends. Prime-time Fox News viewership fell 28% in October from a year earlier, with a sharper decline among 25-54 viewers, though it remained the most-watched cable news network ahead of MS NOW and CNN. CEO Lachlan Murdoch attributed the drop to viewer fatigue and difficult comparisons, citing continued coverage after Charlie Kirk's September 2025 death and natural disast