Fox Corporation (FOXA) Rises 3.67% on Monday as Q3 FY2026 Results Top Estimates

Fox Corporation (NASDAQ: FOXA) climbed $2.31, or 3.67%, to $65.25 on Monday, May 11, 2026, after the company released its third-quarter fiscal 2026 financial results earlier that session. The catalyst was a notable beat on the bottom line, with non-GAAP EPS of $1.32 coming in 36.4% above the analyst consensus estimate.

Q3 FY2026 At a Glance

• Revenue: $3.99 billion for the three months ended March 31, 2026 — exceeded market expectations despite a 8.6% decline year over year
• Non-GAAP EPS: $1.32 vs. consensus estimate — a 36.4% positive surprise
• Net income: $175 million for the quarter
• Adjusted EBITDA: $954 million
• Filing confirmed: SEC EDGAR 8-K filed May 11, 2026 (Item 9.01 — Results of Operations)
• 52-week range: $50.03 – $76.39; Monday's close of $65.25 sits in the upper half of that band

What Drove the Results

While revenue contracted 8.6% year over year to $3.99 billion, the company's profitability metrics told a more constructive story. Adjusted EBITDA of $954 million alongside a non-GAAP EPS beat of this magnitude suggests meaningful cost discipline relative to the topline pressure. The results were reported via an official earnings release confirmed by the May 11 SEC 8-K filing.

It is worth noting that the trailing twelve-month figures from Fox Corporation's fundamentals — including a gross margin of 35.4% and an operating margin of 11.3% — reflect a broader period and may not fully capture the dynamics of this specific quarter. The company's trailing P/E of 15.7x and forward P/E of 12.7x suggest the market is pricing in some margin recovery ahead.

Wall Street View

Analyst sentiment has held steady heading into these results. As of May 1, 2026, the consensus stood at 4 Strong Buy, 10 Buy, 13 Hold, and 1 Sell — unchanged from the April 1 configuration on the buy-side. The distribution reflects a modestly constructive but divided view, with the hold camp representing the plurality. No analyst price targets were available in the current data set.

Investor Takeaway

The Monday, May 11 session outcome for Fox Corporation (NASDAQ: FOXA) reflects a market that rewarded a meaningful EPS beat even as reported revenue declined year over year. With a forward P/E of 12.7x and adjusted EBITDA of $954 million for the quarter, the valuation case rests on profitability execution rather than topline growth. Analyst consensus has remained stable, and investors will likely focus on whether the cost discipline evidenced in this quarter can be sustained as revenue headwinds persist.