Midterm Elections and FIFA World Cup Power Record-Breaking Quarter for Fox Corp.

Midterm election advertising and World Cup power Fox earnings. Fox's revenue in the quarter was $4.57 billion, up 22 percent from a year ago. Advertising associated with the 2026 midterm elections and this year’s FIFA World Cup helped Fox Corp. delivered record-breaking revenue last quarter, the company’s fiscal Q1, it said Monday morning. Fox’s revenue in the quarter was $4.57 billion, up 22 percent from a year ago, with advertising revenue up an astonishing 47 percent from a year ago. Net income was $957 million, up from $609 million a year ago. The quarter included the World Cup final, which was the most-watched soccer game in U.S. history, the beginning of the MLB playoffs and the start of the NFL season.

The midterms, meanwhile, are competitive across the country, leading to a surge in both national ads and ads across Fox’s local TV portfolio. “Political advertising has passed $350 million, a record for a midterm cycle,” Fox CEO Lachlan Murdoch told Wall Street analysts Monday morning. That was despite a “difficult” ratings comparison at Fox News in the quarter compared to a year ago, recognizing the ratings declines. Tubi, Fox’s free streaming service, also posted gains in advertising. “Fox has had an outstanding start to fiscal 2027 with first-quarter records for revenue and Adjusted EBITDA underpinned by robust growth in