Fox profit beats es­ti­mates

The Star Early Edition - - INTERNATIONAL -

RU­PERT Mur­doch-con­trolled Twenty-First Cen­tury Fox’s quar­terly profit edged past an­a­lysts’ es­ti­mates, but rev­enue fell just short of ex­pec­ta­tions, hurt by the lack of box of­fice hits from its movie stu­dio. The com­pany, which is seek­ing reg­u­la­tory ap­proval to com­pletely buy out Sky, said rev­enue at its filmed en­ter­tain­ment di­vi­sion fell 11.5 per­cent to $1.80 bil­lion (R24.18bn) in the fourth quar­ter. Fox said the lower home en­ter­tain­ment rev­enue was due to the strong per­for­mance of Dead­pool in the year-ago quar­ter. How­ever, rev­enue from Fox’s ca­ble di­vi­sion, which houses the Fox News, FX chan­nels among oth­ers, rose 10.4 per­cent and ac­counted for more than half of to­tal rev­enue. Net in­come fell to $476 mil­lion, or 26 cents per share. – Reuters

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