Tags: Twenty-First Century Fox | earnings | profit | television

Twenty-First Century Fox's Profit Falls 49 Percent on Acquisition Costs

Thursday, 06 Feb 2014 09:20 AM

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.

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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.
Twenty-First Century Fox,earnings,profit,television
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2014-20-06
Thursday, 06 Feb 2014 09:20 AM
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