Cable Revenues Help 21st Century Fox (FOXA) Top Q1 Estimates
Twenty-First Century Fox, Inc. FOXA just released its first-quarter fiscal 2018 financial results, posting earnings of $0.49 per share and revenues of $7 billion. Currently, FOXA is a Zacks Rank #3 (Hold) and is up marginally to $28.10 per share in after-hours trading shortly after its earnings report was released.
Twenty-First Century Fox:
Beat earnings estimates. The company posted earnings of $0.49 per share, just beating the Zacks Consensus Estimate of $0.48 per share.
Beat revenue estimates. The company saw revenue figures of $7 billion, topping our consensus estimate of $6.87 billion.
Twenty-First Century Fox’s adjusted earnings per share fell from $0.51 in the year-ago period. However, the company’s quarterly revenues popped 8% year-over-year.
The company’s Cable Network Programming revenues jumped from $3.81 billion to $4.19 billion in its first quarter of fiscal 2018. FOXA revenues grew across all of its other operating segments as well, including its Filmed Entertainment unit.
“The Company’s double-digit gains in affiliate revenues demonstrate our strength in the dynamic global
market for distinctive video brands and content, across both established distributors and new entrants,” Executive Chairmen Rupert and Lachlan Murdoch said in a statement.
“We delivered top-line growth at all of our businesses, backed by stand-out storytelling, sports and news, as well as a product focus that will drive greater consumption and compelling opportunities for financial returns on our content investment. Our solid first quarter performance puts us on track to achieve our overall financial and operational objectives for this fiscal year.”
Here’s a graph that looks at FOXA’s Price, Consensus and EPS Surprise history:
Twenty-First Century Fox, Inc. Price, Consensus and EPS Surprise
Twenty-First Century Fox, Inc. Price, Consensus and EPS Surprise | Twenty-First Century Fox, Inc. Quote
Twenty-First Century Fox, Inc. is involved in creating and distributing media services. Its business portfolio consists of cable, broadcast, film, pay TV and satellite assets. Twenty-First Century Fox, Inc., formerly known as News Corporation, is based in New York, United States.
Check back later for our full analysis on FOXA’s earnings report!
Also, make sure you check out the most recent episode of the Full-Court Finance podcast, which dives into how the NFL’s rating might impact broadcast partners such as Fox.
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