Twenty-First Century Fox (FOXA) Q2 Earnings Top, Revenues Lag

Zacks Equity Research Published on February 11, 2019

Twenty-First Century Fox, Inc. (FOXA - Free Report) delivered second-quarter fiscal 2019 adjusted earnings of 37 cents per share, beating the Zacks Consensus Estimate by 7 cents. However, the figure decreased 11.9% on a year-over-year basis owing to lack of contribution from stake in Sky following its sale to Comcast (CMCSA - Free Report) .

Revenues of $8.49 billion increased 5.7% from the year-ago quarter. However, the figure missed the Zacks Consensus Estimate of $8.58 billion.

The top-line growth can primarily be attributed to increasing affiliate revenues from the Cable Network Programming, and growth in affiliate and advertising revenues in the Television segments, offset by lower home entertainment revenues at the Filmed Entertainment segment. Notably, foreign currency had a negative impact of about $195 million on revenue growth.

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