This is one outlet's own report from Forbes — the article as it was filed.
AIPROPX ReportForbes · 4h ago
Fox News Rival Newsmax Turns First Profit Since Going Public In Record $54 Million Quarter
Topline Newsmax published a strong earnings report Thursday, marking the first ever profit for the conservative news network since it went public.
Newsmax posted quarterly revenue of $54.1 million in its fiscal second quarter, a record that represented a roughly 17% jump from the $46.4 million in revenue it raked in a year earlier, according to a Securities and Exchange Commission filing .
The network also recorded $2.9 million in net income in the second quarter—its first profit made since going public last March.
Broadcasting revenue, the company’s main income source, rose 21% year-over-year to $45.8 million.
Newsmax maintained a full-year revenue forecast of $212 million to $216 million, with growth expected to be driven by fee increases and distribution deals, not political advertising.
Newsmax says it garners more viewers than business outlets CNBC and Fox Business combined across key dayparts, citing Nielsen data and noting that because it earns a fraction of either channel's per-subscriber fee, contract renewals could become the largest earnings catalyst for the company.
Newsmax jumped more than 7% on Thursday to $9.49 a share.
$0.39. That is how much Newsmax collects per subscriber per month through affiliate fees, which are the payments cable and satellite providers make to carry a channel. Fox News collects $2.67 per subscriber, marking a roughly sevenfold difference despite comparable household reach, Newsmax’s investor presentation said.
Newsmax announced an artificial intelligence content partnership with Meta last month that will bring its programming across Meta platforms. The deal means Meta will be able to use Newsmax digital news content to support AI queries made by users on Meta apps and devices. The financial terms of the deal have not been disclosed, though it is possible Newsmax’s third quarter earnings could shed some light on them.
Newsmax described its core viewers as high-income earners and high-net-worth retirees—a demographic that makes its affiliate fee rate even more unusual.
Newsmax closed its first day on the stock market last year up more than 700% at $83.51 per share, in one of the most eye-popping initial public offerings in recent memory. The stock quickly returned to Earth and tumbled into 2026, falling as low as $5.16. However, the stock has risen 75% in the last six months of trading and nearly 13% in the last month. Newsmax, which holds a $1.2 billion market cap, was founded by Christopher Ruddy in 1998.
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