21st Century Fox Profit Shrinks In 1Q

By: Associated Press
By: Associated Press

NEW YORK (AP) - Entertainment giant Twenty-First Century Fox Inc. on Tuesday posted net income in its fiscal first quarter that shrank more than analysts had expected as its movies didn't fare as well as a year ago.

The results marked the first quarter as a separate entity from publishing company News Corp., which was spun off at the end of June.

Net income for the three months through Sept. 30 was $1.26 billion, or 54 cents per share, versus $2.23 billion, or 94 cents per share, a year ago.

Excluding discontinued operations, adjusted earnings came to 33 cents per share, a penny short of the forecast of analysts polled by FactSet.

Revenue rose 18 percent to $7.06 billion. Wall Street expected $6.82 billion.

Shares are off 2 percent to $33.40 in aftermarket trading.

Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
KOLO-TV 4850 Ampere Drive Reno, NV 89502
Copyright © 2002-2015 - Designed by Gray Digital Media - Powered by Clickability 230739111 - kolotv.com/a?a=230739111
Gray Television, Inc.