• Fox Corporation recently reported past quarterly results highlighting that Tubi reached its first profitable quarter, with ad revenue and viewing time both rising strongly.
• Alongside this, Fox announced a US$1.50 billion share buyback program, signaling management’s confidence in the business while accelerating capital returns to investors.
• Next, we will examine how Tubi’s move into profitability may influence Fox’s broader investment narrative and outlook for its media portfolio.

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Fox Investment Narrative Recap

To own Fox, you need to believe its legacy TV, sports and news cash flows can be gradually rebalanced toward faster growing digital assets like Tubi, without eroding profitability too sharply. Tubi’s first profitable quarter helps address the biggest near term catalyst, proving Fox’s streaming pivot can contribute financially, while the key risk remains ongoing declines in traditional TV audiences and advertising. The new US$1.50 billion buyback does not materially change those fundamentals.

The recent US$1.50 billion share repurchase authorization is the most relevant development here, sitting alongside Tubi’s profitable quarter as Fox refines its capital allocation playbook. For investors focused on catalysts, this program works in tandem with Tubi’s progress by potentially enhancing per share metrics, even as the company continues to face structural pressure on its core broadcast and cable operations.

But investors should also be aware of how quickly younger audiences are shifting away from traditional TV and what that could mean for...

Fox's narrative projects $16.4 billion revenue and $1.9 billion earnings by 2028.

Uncover how Fox's forecasts yield a $73.22 fair value, in line with its current price.

Exploring Other Perspectives

Five fair value estimates from the Simply Wall St Community span roughly US$55 to about US$90, showing how widely opinions can differ. You should weigh that spread against the central risk that Fox’s traditional TV and cable businesses face sustained audience and advertising erosion, which could have broad implications for its overall earnings profile.

Explore 5 other fair value estimates on Fox - why the stock might be worth as much as 23% more than the current price!

Build Your Own Fox Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Fox research is our analysis highlighting 2 key rewards and 2 important warning signs that could impact your investment decision.
• Our free Fox research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Fox's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.