Can Fox’s Record Sales Growth Last?
One major broadcaster just posted quarterly sales 28% higher than the same period a year earlier. That company is Fox (FOXA), and the jump during its fiscal fourth quarter, the three months to June 2026, represents its fastest sales growth in at least eight years. Before reading on, take a guess: how much does Fox usually grow its sales in a quarter?
How Unusual Is This For Fox?
Over those eight years, Fox recorded median quarterly sales growth of 5.2%. That compares with 28.1% in the quarter to June 2026. A look at the same quarter across recent years illustrates the size of the gap.
| Quarter ended | Sales, change from the same quarter a year earlier |
|---|---|
| 2019-06-30 (Q4 FY2019) | 5.0% |
| 2020-06-30 (Q4 FY2020) | -3.8% |
| 2021-06-30 (Q4 FY2021) | 19.5% |
| 2022-06-30 (Q4 FY2022) | 4.9% |
| 2023-06-30 (Q4 FY2023) | -0.033% |
| 2024-06-30 (Q4 FY2024) | 2.0% |
| 2025-06-30 (Q4 FY2025) | 6.3% |
| 2026-06-30 (Q4 FY2026) | 28.1% |
One fiscal quarter in each row: the same fiscal quarter in each year, 2019-06-30 (Q4 FY2019) to 2026-06-30 (Q4 FY2026).
The company surpassed a recent record. Fox grew sales 26.8% in the quarter to March 2025. Growth never topped 6.3% across the four intervening quarters, making this latest figure a fresh breakout. Fox typically operates as a slow grower, and the performance for the quarter to June 2026 stands far above its normal baseline.
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What Is Behind Fox’s Record Sales Growth?
Advertising played the primary role, centered on the World Cup broadcasts during the quarter. Its Television segment grew revenue 45%, management stated on the August 6, 2026 call. Advertising within that segment expanded 108%, led by the World Cup, higher political advertising at its local stations and continued growth at Tubi.
Tubi accelerated its own revenue growth to 35% in the quarter. Advertising in the Cable Network Programming segment also grew 22%, again driven by the World Cup. Selling ads around a single major sporting event provided the bulk of the increase, with political ads and Tubi adding to it.
Is The Latest Quarter Still Improving?
The latest quarter set a record, raising the question of whether it caps an ongoing upward trend. The numbers show otherwise. Sales growth slowed in each of the four quarters following the previous high, culminating in a fall of 8.6% in the quarter to March 2026. The quarter to June then jumped directly to the new peak.
A single quarter can contain a major event, and Fox carried World Cup games during its record period. Over the full twelve months to June 2026, Fox grew sales 5.1%. The newest quarter therefore represents a sudden jump rather than the top of a steady climb.
When The Record Is Next Tested
Management expects the midterm elections to boost advertising revenue for fiscal 2027, particularly at its local stations and Tubi. Executives stated on the call that they believe this will be a record midterm cycle.
Fox stock returned 12.5% over the twelve months to October 16, 2026, compared with 16.2% for the S&P 500. The company will report on or around November 2, 2026. Its sales growth in the quarter to September 2026, measured against the record set in the quarter to June, will be the key figure to watch.
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