Fox Corp. eclipsed Wall Street analysts’ expectations in its fiscal first quarter, reporting adjusted earnings per share of $1.51 and total revenue of $3.7 billion.

Analysts’ consensus outlook was for earnings per share of $1.06 and revenue of $3.58 billion.

The solid overall quarter came despite sluggish movement of the company’s all-important advertising business. Ad revenue in the Television unit, which includes the Fox broadcast network and local stations, rose 6% to $1.07 billion, while in the Cable Network Programming division it went up 7% to $345 million.

Comparisons were hurt by the lack of political ad spending in 2025 compared with the presidential cycle of 2024. Kicking off a conference call with analysts to discuss the results, CEO Lachlan Murdoch said current demand fro

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