21st Century Fox announced fourth-quarter earnings in which beat expectations along with revenue in which narrowly missed.
Here’s how the company did compared with what Wall Street expected:
- EPS: 36 cents vs. 35 cents, according to Thomson Reuters
- Revenue: $6.75 billion vs. $6.77 billion, according to Thomson Reuters
The company’s earnings fell to 36 cents per share through 45 cents per share from the year-ago quarter. Revenue increased to $6.75 billion through $6.6 billion from the same period last year.
21st Century Fox attributed revenue growth to higher cable network programming affiliate along with advertising revenue, which in which said was partially offset by lower filmed entertainment content revenue along with lower television ad revenue.
Cable network programming revenue increased to $4.33 billion through $3.92 billion through the year-ago quarter. Television revenue decreased to $1 billion through $1.04 billion from the same period last year, along with filmed entertainment revenue decreased to $1.80 billion through $2.04 billion.
Domestic affiliate revenue increased 10 percent, which 21st Century Fox attributed to higher pricing across its cable brands. Domestic advertising revenue grew 6 percent through the same time last year.
“We believe in which as time-shifted on-demand along with ad-free viewing continue to grow in popularity our strength in live news along with sports globally is usually a great advantage,” co-chairman Lachlan Murdoch told investors on a call following the earnings Discharge. “News along with sports, the least likely programming to be watch-delayed, comprised more than half of our advertising revenues.”
CEO James Murdoch said 21st Century Fox’s acquisition of Sky, a European satellite company, is usually more likely to be approved from the first half of next year than before the end of This particular year.
21st Century Fox’s quest was stalled yet again This particular week. The U.K.’s culture secretary, Karen Bradley, is usually seeking more advice through media regulator Ofcom, according to the Hollywood Reporter.
CFO John Nallen told investors he expects the company’s cable networks to continue the momentum from the upcoming fiscal year. 21st Century Fox has entered into two brand-new sports agreements, with college sports conference the Big Ten along with the FIFA World Cup, he said.
from the upcoming year, the company will not broadcast the Super Bowl. in which will show one less NFL division playoff game, along with in which will not likely see another “epic” 7-game World Series. in which will also not be an election year.
Multiple companies yanked their ads through Fox News’ prime-time slot in April amid sexual harassment allegations against the network’s biggest star, Bill O’Reilly. Fox dropped O’Reilly later in which month. Tucker Carlson took over O’Reilly’s 8 p.m. Eastern time slot, replacing “The O’Reilly Factor” with “Tucker Carlson Tonight.”
Last month, Fox News continued its streaks for most day viewers along with prime-time viewers, TVNewser reported, citing Nielsen numbers. The network has been first in day viewers for 13 consecutive months along with first in prime-time viewers for 187 straight months, TVNewser said.
The company’s fourth-quarter revenue will include ticket sales through 20th Century Fox movies “The Boss Baby” along with “Alien: Covenant.”
21st Century Fox is usually exploring the option of operating local television stations through Ion Media Networks along with ditching Sinclair Broadcast Group as an affiliate partner, Bloomberg reported last week. Sinclair is usually from the process of acquiring Tribune Media, which owns or operates 42 local television stations, according to the company’s website.
James Murdoch declined to comment on 21st Century Fox’s reportedly seeking a deal with Ion. However, he said the retransmission environment is usually “very attractive.”
“I think fundamentally we think we have a lot of options along with several affiliation agreements coming shortly along with over the next couple of years,” he said. “along with we’re very, very focused on the best way to actually maximize any advantage in which we can get for the business going forward.”
Shares of 21st Century Fox are down slightly so far This particular year.