Twenty-First Century Fox Inc. said Thursday its fiscal second-quarter net income dropped 49 percent, largely as a result of acquisition-related costs, but managed to match Wall Street predictions.

For the quarter ended Dec. 31, the media entertainment giant controlled by Rupert Murdoch earned $1.21 billion, or 53 cents per share, down from $2.38 billion, or $1.01 per share, in the same quarter the year before.

The recent quarter's results included hefty expenses related to the company's acquisition of a controlling stake in Sky Deutschland AG in January 2013. Excluding one-time items, the company posted an adjusted profit of 33 cents per share.

Revenue rose 15 percent to $8.16 billion from $7.11 billion, as contributions from Sky Deutschland boosted results at its direct broadcast satellite television division.

Analysts, on average, expected a profit of 33 cents per share on $7.87 billion in revenue, according to FactSet.