It operates in five business segments: Cable Network Programming, Television, Filmed Entertainment, and Other Corporate and Eliminations.
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The conglomerate controlled by Rupert Murdoch earned 44 cents per share, after certain items, on $7.38 billion in revenue while analysts expected 44 cents on $7.51 billion.
Revenues at 21st Century Fox were down 8% to $7.38 billion, with net income $748 million versus $6.3 billion for the same period a year before.
The company said the adverse impact of foreign exchange rates impacted revenue growth by $292 million ($US207 million), or around 3 per cent. Parkwood LLC increased its position in Twenty-First Century Fox by 20.4% in the fourth quarter.
Shares of Twenty-First Century Fox (FOXA – Get Report) are falling 0.35% to $24.50 in after-hours trading Monday following the media and entertainment’s second quarter fiscal 2016 earnings results, reported after the market close.
The Fox broadcast network delivered a strong performance for the quarter ended December 31, with higher revenue for its National Football League programming and primetime lineup, particularly the hit show, “Empire”, which follows the audacious exploits of the fictional Cookie and Lucious Lyon family dynasty.
Many Wall Street Analysts have commented on Twenty-First Century Fox Inc. Fox’s profitable cable TV channel division, which includes FX and regional sports networks, brought in 9% higher revenue to $3.7 billion. The firm has a market cap of $48.42 billion and a price-to-earnings ratio of 6.46.
On the other hand, revenue at filmed entertainment dropped from $2.8 billion to $2.4 billion.
In a call with investors, Executive Chairman Lachlan Murdoch called the film results “disappointing”, but said the company was heartened by the success of “The Revenant” and upcoming releases such as the comic book adaptation “Deadpool”. Shares were Reiterated by FBR Capital on Feb 9, 2016 to “Mkt Perform” and Lowered the Price Target to $ 27 from a previous price target of $30. At present, the stock is down 2.28% to $23.98 during after-hours trade.
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21st Century Fox shares closed 2 percent lower on Monday and are off 11 percent this year. The company had been forecasting growth of just under 5 per cent in earnings before interest, taxes, depreciation and amortization.
