Q4 2025 Fox Corp Earnings Call Transcript
Key Points
- Fox Corp (FOX) reported a strong financial performance with a 17% increase in revenue to $16 billion and a 26% growth in EBITDA to $3.6 billion.
- The company achieved record political advertising revenue of over $400 million and broke viewership and advertising records with Super Bowl 59, generating over $800 million in gross advertising revenue.
- Fox News maintained its position as the most-watched cable network, with a 25% increase in total day audience and a 31% increase in the demo.
- Tubi, Fox Corp's streaming platform, saw significant growth with a 32% increase in revenue and 17% growth in total view time, reaching over 100 million monthly active users.
- Fox Corp announced a $5 billion increase in its share repurchase authorization, reflecting confidence in its business trajectory and strong balance sheet.
- Fox Corp faces tough comparisons in fiscal 2026 due to the absence of major events like the Super Bowl and political advertising, which could impact EBITDA.
- The company anticipates a $350 million investment in digital growth initiatives, including FOX One and Latin America, which may weigh on short-term profitability.
- The local advertising market remains mixed, with gains in pharmaceuticals offset by declines in telecom and restaurant sectors.
- Fox Corp's investment in FOX One and Latin America is expected to take three to four years to yield significant returns, indicating a long-term horizon for profitability.
- The competitive CTV market presents challenges for Tubi, requiring stable pricing strategies to maintain its growth trajectory.
Ladies and gentlemen, thank you for standing by. Welcome to the Fox Corporation fourth quarter fiscal year 2025 earnings conference call. (Operator Instructions) As a reminder, this conference is being ordered.
I will now turn the conference over to Chief Investor Relations Officer, Ms. Gabrielle Brown. Please go ahead, Ms. Brown.
Thank you, Karli. Good morning, and welcome to our fiscal 2025 fourth quarter earnings call. Joining me on the call today are Lachlan Murdoch, Executive Chair and Chief Executive Officer; John Nallen, Chief Operating Officer; and Steve Tomsic, our Chief Financial Officer.
First, Lachlan and Steve will give some prepared remarks on the most recent quarter, and then we'll take questions from the investment community. Please note that this call may include forward-looking statements regarding Fox Corporation's financial performance and operating results. These statements are based on management's current expectations and actual
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