Fox(US:FOX)2026-02-04 13:03Financial Performance - Total quarterly revenues were $5.18 billion, an increase of $104 million or 2% from the prior year quarter[3]. - Quarterly net income was $247 million, down from $388 million in the prior year quarter, with adjusted net income of $360 million compared to $442 million a year ago[4]. - Adjusted EBITDA for the quarter was $692 million, a decrease of $89 million or 11% from $781 million reported in the prior year quarter[4]. - Revenues for the three months ended December 31, 2025, were $5,182 million, a slight increase from $5,078 million in the same period of 2024, representing a growth of 2%[21]. - Net income attributable to Fox Corporation stockholders for the six months ended December 31, 2025, was $828 million, down from $1,200 million in 2024, reflecting a decrease of 31%[21]. - Adjusted EBITDA for the three months ended December 31, 2025, was $692 million, compared to $781 million in the same period of 2024, indicating a decline of 11%[34]. Revenue Breakdown - Distribution revenues increased by 4% to $2.00 billion, driven by a 5% growth in the Cable Network Programming segment[3]. - Advertising revenues rose by 1% to $2.46 billion, supported by higher sports and news pricing, and digital growth from the Tubi AVOD service[3]. - Cable Network Programming segment revenues were $2.28 billion, an increase of $110 million or 5% from the prior year quarter[8]. - Television segment revenues were $2.94 billion, slightly down from $2.96 billion in the prior year quarter[12]. Shareholder Returns - The company declared a dividend of $0.28 per Class A and Class B share, payable on March 25, 2026[15]. - As of December 31, 2025, the company repurchased approximately $6.6 billion of Class A common stock and $1.8 billion of Class B common stock, with a remaining authorization of $3.6 billion[16]. - The company repurchased shares worth $1,800 million during the six months ended December 31, 2025, compared to $500 million in the same period of 2024, indicating a significant increase in share buybacks[25]. Cash Flow and Assets - Cash and cash equivalents decreased to $2,017 million at the end of December 2025, from $5,351 million at the beginning of the year, a decline of 62%[25]. - Net cash used in operating activities for the six months ended December 31, 2025, was $(799) million, compared to $(204) million in 2024, showing a worsening cash flow situation[25]. - Total assets as of December 31, 2025, were $21,471 million, down from $23,195 million as of June 30, 2025, a decrease of 7%[23]. - Operating expenses for the six months ended December 31, 2025, were $5,979 million, an increase from $5,794 million in 2024, reflecting a rise of 3%[21]. Restructuring and Impairment - The company reported a restructuring and impairment expense of $14 million for the three months ended December 31, 2025, significantly lower than $170 million in the same period of 2024[29]. Strategic Focus - The company continues to focus on digital growth and enhancing its content offerings to drive future revenue growth[3]. Share Count - The weighted average shares outstanding for the three months ended December 31, 2025, were 441 million, down from 462 million in 2024, a decrease of 5%[21].