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FOXA Gears Up to Report Q1 Earnings: What's in Store for the Stock?
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Key Takeaways
Fox is set to report Q1 fiscal 2027 results on Nov. 2, with earnings expected to grow 31.7% YOY.
World Cup coverage, NFL games and midterm political spending are expected to support advertising growth.
Higher sports costs, subscriber declines and Roku-related expenses are expected to weigh on results.
Fox Corporation (FOXA - Free Report) is set to report first-quarter fiscal 2027 results on Nov. 2.
For the to-be-reported quarter, the Zacks Consensus Estimate for earnings is pegged at $1.99 per share, up 2.5% in the past 30 days. The figure indicates 31.7% growth from the year-ago reported figure.
The consensus mark for revenues is pegged at $4.23 billion, implying 13.2% growth from the year-ago quarter’s reported figure.
The company’s earnings beat the Zacks Consensus Estimate in the trailing four quarters, the average surprise being 44.98%.
Let us see how things have shaped up for this announcement.
The quarter, spanning July through September 2026, is expected to have benefited from the end of the FIFA Men’s World Cup, early midterm political spending and the start of the NFL season. Higher sports programming costs are likely to have partly offset these gains.
Advertising momentum carried into the fiscal first quarter across FOX’s national, local and digital portfolio. Although total tournament revenues were weighted toward fiscal 2026, the Television segment is expected to have captured most World Cup revenues in the quarter, as it carried the majority of knockout-stage matches. FOX also closed one of its strongest upfronts, with double-digit volume growth across Sports, News and Tubi. Midterm political advertising is expected to have aided local stations and Tubi, with FOX anticipating a record cycle above the more than $260 million generated in the last midterm.
Distribution renewals are expected to return to more normalized levels in fiscal 2027, skewed toward Television, with both segments contributing to growth. FOX One, which showed minimal pay-TV cannibalization and churn below expectations continuing into the first quarter, is likely to have added incremental revenues.
Within Television, FOX’s July 19 World Cup final averaged 38.9 million viewers, the most-watched soccer telecast in U.S. history. In August, Tubi announced 110 million monthly active users, up 14% year over year, while FOX entered the 2026 NFL season with two additional regular-season windows. In Cable, affiliate pricing gains and FOX One contributions are expected to have supported revenues. FOX raised its semiannual dividend to 29 cents per share.
However, expenses are expected to have climbed on World Cup rights amortization, production costs and the expanded NFL slate. Net subscriber declines, under 6.5% across third-party distributors in the fiscal fourth quarter, remained a drag, while the connected-TV ad market stayed highly competitive. Roku-related transaction costs are also likely to have weighed.
Capital expenditures rose in fiscal 2026, alongside FOX’s continued investments in technology and digital capabilities. Free cash flow is expected to have benefited from collecting World Cup advertising receivables after rights payments landed in fiscal 2026. Digital investment, below $200 million in fiscal 2026, is expected to have improved further. FOX ended fiscal 2026 with $4.2 billion in cash and $6.6 billion in debt, with buybacks continuing through the pending Roku acquisition, set to close in the first half of 2027.
What Our Model Says
According to the Zacks model, the combination of a positive Earnings ESP and Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the odds of an earnings beat.
FOXA has an Earnings ESP of +6.64% and a Zacks Rank #2 at present. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Other Stocks to Consider
Here are some other companies worth considering, as our model shows that these, too, have the right combination of elements to beat earnings in their upcoming releases:
Marriott International (MAR - Free Report) presently has an Earnings ESP of +1.56% and a Zacks Rank #2. MAR’s shares have gained 28.7% year to date. MAR is slated to report its third-quarter 2026 results on Nov. 2.
Angel Studios, Inc. (ANGX - Free Report) presently has an Earnings ESP of +7.69% and a Zacks Rank #2. However, ANGX’s shares have plunged 19.9% year to date. ANGX is set to report its third-quarter 2026 results on Nov. 10.
View the Zacks #1 Rank List
Image: Shutterstock
FOXA Gears Up to Report Q1 Earnings: What's in Store for the Stock?
Key Takeaways
Fox Corporation (FOXA - Free Report) is set to report first-quarter fiscal 2027 results on Nov. 2.
For the to-be-reported quarter, the Zacks Consensus Estimate for earnings is pegged at $1.99 per share, up 2.5% in the past 30 days. The figure indicates 31.7% growth from the year-ago reported figure.
The consensus mark for revenues is pegged at $4.23 billion, implying 13.2% growth from the year-ago quarter’s reported figure.
The company’s earnings beat the Zacks Consensus Estimate in the trailing four quarters, the average surprise being 44.98%.
Let us see how things have shaped up for this announcement.
Fox Corporation Price and EPS Surprise
Fox Corporation price-eps-surprise | Fox Corporation Quote
Factors to Consider for FOXA Shares
The quarter, spanning July through September 2026, is expected to have benefited from the end of the FIFA Men’s World Cup, early midterm political spending and the start of the NFL season. Higher sports programming costs are likely to have partly offset these gains.
Advertising momentum carried into the fiscal first quarter across FOX’s national, local and digital portfolio. Although total tournament revenues were weighted toward fiscal 2026, the Television segment is expected to have captured most World Cup revenues in the quarter, as it carried the majority of knockout-stage matches. FOX also closed one of its strongest upfronts, with double-digit volume growth across Sports, News and Tubi. Midterm political advertising is expected to have aided local stations and Tubi, with FOX anticipating a record cycle above the more than $260 million generated in the last midterm.
Distribution renewals are expected to return to more normalized levels in fiscal 2027, skewed toward Television, with both segments contributing to growth. FOX One, which showed minimal pay-TV cannibalization and churn below expectations continuing into the first quarter, is likely to have added incremental revenues.
Within Television, FOX’s July 19 World Cup final averaged 38.9 million viewers, the most-watched soccer telecast in U.S. history. In August, Tubi announced 110 million monthly active users, up 14% year over year, while FOX entered the 2026 NFL season with two additional regular-season windows. In Cable, affiliate pricing gains and FOX One contributions are expected to have supported revenues. FOX raised its semiannual dividend to 29 cents per share.
However, expenses are expected to have climbed on World Cup rights amortization, production costs and the expanded NFL slate. Net subscriber declines, under 6.5% across third-party distributors in the fiscal fourth quarter, remained a drag, while the connected-TV ad market stayed highly competitive. Roku-related transaction costs are also likely to have weighed.
Capital expenditures rose in fiscal 2026, alongside FOX’s continued investments in technology and digital capabilities. Free cash flow is expected to have benefited from collecting World Cup advertising receivables after rights payments landed in fiscal 2026. Digital investment, below $200 million in fiscal 2026, is expected to have improved further.
FOX ended fiscal 2026 with $4.2 billion in cash and $6.6 billion in debt, with buybacks continuing through the pending Roku acquisition, set to close in the first half of 2027.
What Our Model Says
According to the Zacks model, the combination of a positive Earnings ESP and Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the odds of an earnings beat.
FOXA has an Earnings ESP of +6.64% and a Zacks Rank #2 at present. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Other Stocks to Consider
Here are some other companies worth considering, as our model shows that these, too, have the right combination of elements to beat earnings in their upcoming releases:
Cinemark (CNK - Free Report) currently has an Earnings ESP of +5.33% and sports a Zacks Rank #1. CNK shares have surged 72.3% year to date. CNK is set to report its third-quarter 2026 results on Nov. 3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Marriott International (MAR - Free Report) presently has an Earnings ESP of +1.56% and a Zacks Rank #2. MAR’s shares have gained 28.7% year to date. MAR is slated to report its third-quarter 2026 results on Nov. 2.
Angel Studios, Inc. (ANGX - Free Report) presently has an Earnings ESP of +7.69% and a Zacks Rank #2. However, ANGX’s shares have plunged 19.9% year to date. ANGX is set to report its third-quarter 2026 results on Nov. 10.