Fox Corporation Reports Record Revenue Despite Fox News Ratings Dip

Fox Corporation CEO Lachlan Murdoch attributed recent ratings declines at Fox News to viewer fatigue during a quarterly earnings call on November 2, 2026. Murdoch stated that audiences are watching less television overall following a heavy news cycle involving an inauguration, the Charlie Kirk tragedy, DOGE, and flooding, rather than switching to competitors such as CNN or MS NOW. He compared the current trend to the 2006 midterms, noting that the company has seen this playbook before.

Despite the dip in news viewership, Fox Corporation reported record Q1 results for the period ending September 30. Revenue rose 22% to $4.57 billion, and net income increased to $957 million. This growth was primarily driven by a 47% surge in advertising revenue.

Financial gains were bolstered by the FIFA World Cup, the Tubi streaming service, and midterm elections. The elections specifically generated $50 million for national networks and $250 million for local stations.