21st Century Fox (FOXA) Q4 Earnings & Sales Top Estimates
Zacks Investment Research | Aug 09, 2017 09:42PM ET
Twenty-First Century Fox, Inc. (NASDAQ:FOXA) reported better-than-expected earnings for the fifth straight quarter, when it reported fourth-quarter fiscal 2017 results. The company’s adjusted earnings from continuing operations came in at 36 cents, beating the Zacks Consensus Estimate by a couple of cents. However, earnings declined 20% year over year as 7 cents of tax benefits were included in the prior-year adjusted earnings due to favorable tax ruling.
Including one-time items, earnings came in at 27 cents a share, compared with 30 cents reported in the prior-year quarter.
More importantly, the top line not only increased 1.5% year over year but also surpassed the Zacks Consensus Estimate after missing the same in the trailing two quarters. Revenues of $6,748 million came ahead of the consensus mark of $6,734 million on account of robust affiliate as well as advertising revenue at the Cable Network Programming segment, which mitigated lower content revenues at the Filmed Entertainment segment and dismal advertising revenues at the Television segment.
Following the results Twenty-first Century Fox’s shares inched up 1.5% in after-hours trading session on Aug 9. In the past one year, the stock has gained 6.7% compared with the Zacks Investment Research
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