Twenty-First Century Fox, Inc. | $FOX Stock | Entertainment Assets Boost Q4 Earnings and Revenue


Twenty-First Century Fox, Inc. (NASDAQ: FOX) 


21st Century Fox reported its fourth-quarter financial results after the markets closed on Wednesday.

The Rupert Murdoch-controlled flew past Wall Street estimates, thanks to cable-network subscriber fees and the success of movies, such as The Greatest Showman and Deadpool 2 during the quarter.

Despite posting superb results, investors appear to have shied away from FOX shares, perhaps because of the pending Disney deal.

The stock rose marginally in the extended trading session Thursday, having closed the regular session at $45.46.

Shareholders the two companies approved a $71.3 billion stock and cash deal that will see Fox surrender its television and film studios to Disney.

FOX Earnings & Outlook

The company said it earned net income of $920 million, or $0.49 cents per share during the three months to June 30, 2018.

A year ago, Fox had net income of $476 million, or $0.26 per share. After stripping out one-time expenses, the company earned $0.57 per share, compared with $0.36 per share in the year-ago period.

Total revenue was $7.94 billion, an increase of 18% from the fourth quarter of the previous year. Thompson Reuters, based on analyst predictions, had expected adjusted earnings of $0.54 per share on sales of $7.56 billion.

Filmed Entertainment segment generated an income of $289 million after posting a loss of $22 million in 2017. International cable sales grew, with advertising revenue rising 55% and affiliate ahead 2%.

Twenty-First Century Fox CEO Comments

Executive Chairmen Rupert and Lachlan Murdoch issued the following statement, “Our strategic plan over the last decade has been built on a singular focus on creative excellence to power our world-class video brands.The outstanding shareholder value created this year through our proposed transactions recognizes the work we have done to position our businesses to succeed during a time of great change. We continued to make progress this past fiscal year.

We delivered financial and operational momentum, including four consecutive quarters of double-digit domestic affiliate gains, one of the strongest six-month periods ever for our film studio, and continued dominance in live sports and news. We start a new fiscal year with tailwinds from last quarter’s double-digit topline growth across our business segments. As we move closer to combining our businesses with Disney and establishing new “Fox”, we are convinced that the paths we are creating for our iconic businesses will drive enduring and growing value for our shareholders.”

Twenty-First Century Fox, Inc. Company Profile

Twenty-First Century Fox, Inc. is a media company, which engages in television broadcasting and film production.

It operates through the following segments: Cable Network Programming; Television; Filmed Entertainment; Direct Broadcast Satellite Television, and Other Corporate and Eliminations.

The Cable Network Programming segment consists of the production and licensing of programming distributed through cable television systems and direct broadcast satellite operators. The Television segment offers broadcasting of network programming.

The Filmed Entertainment offers production and acquisition of live-action and animated motion pictures for distribution and licensing in entertainment media.

The Direct Broadcast Satellite Television segment involves in the distribution of basic and premium programming services via satellite and broadband directly to subscribers.

The Other, Corporate and Eliminations segment comprises of corporate overhead and eliminations. The company was founded in 1979 and is headquartered in New York, NY.      –CNN