Tags: Fox | Bill OReilly | TV | earnings

21st Century Fox Earnings Beat Expectations, Revenues Miss

21st Century Fox Earnings Beat Expectations, Revenues Miss
(Dreamstime)

Wednesday, 09 August 2017 04:30 PM EDT

Even without Bill O'Reilly, Fox News continues to be the golden goose. The conservative cable network helped offset a box office slowdown and weaker broadcast television results at 21st Century Fox during the most recent fiscal quarter. The company's fourth quarter profits beat Wall Street's expectations even as the media conglomerate's revenues fell just short of projections.

Revenues at the company behind 20th Century Fox, FX, and Fox News increased 2% to $6.75 billion. Adjusted quarterly income came in at 36 cents a share. The company said its gains were attributable to higher ad revenue in its cable operations, which helped offset weaker results in its film and broadcast television arms.

Analysts were looking for earnings of 35 cents a share on $6.77 billion in revenue, according to Thomson Reuters.

The earnings report comes as Fox is looking to close its deal to take full control of European pay TV giant Sky. The $15 billion play is looking wobbly after British culture secretary Karen Bradley asked communications regulator Ofcom to look at Fox's bid for Sky again, and set a deadline of August 25th to receive a new report.

It was an eventful quarter for Fox, one that included the ouster of Fox News star Bill O'Reilly amid allegations of sexual harassment. In April, the network replaced "The O'Reilly Factor" with "Tucker Carlson Tonight." Despite the off-screen drama, Fox News' ratings have continued to be strong.

On the film front, it was a mixed bag. Fox had a bit with DreamWorks Animation's "Boss Baby," but "Alien: Covenant" stumbled leading to questions about the horror franchise's viability, and the Amy Schumer comedy "Snatched" was a box office disappointment.

Fox also reported its fiscal year results. The company's annual income topped out at $3 billion or $1.61 per share, compared with $2.76 billion or $1.42 per share in the prior year. Annual revenues climbed 4% to end up at $28.5 billion.

© 2026 Thomson/Reuters. All rights reserved.


StreetTalk
Even without Bill O'Reilly, Fox News continues to be the golden goose. The conservative cable network helped offset a box office slowdown and weaker broadcast television results at 21st Century Fox during the most recent fiscal quarter. The company's fourth quarter profits...
Fox, Bill OReilly, TV, earnings
319
2017-30-09
Wednesday, 09 August 2017 04:30 PM
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