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Twenty-First Century Fox, Inc.

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Twenty-First Century Fox, which has outpaced the industry in a year, continues to impress investors with its positive earnings surprise streak for the sixth straight quarter, when it reported first-quarter fiscal 2018 results. The quarter also marked the second successive quarter of revenue beat, wherein both the top and bottom line grew year over year. The company’s impressive performance was driven by robust affiliate revenues across the Cable Network Programming and Television segments. Higher content revenues at the Filmed Entertainment segment also contributed. Despite these tailwinds, elevated programming costs remain a cause of concern. Increase in expenses may dent the margins and in turn the bottom line. Further, the company’s proposed acquisition of remaining 61% stake in Sky plc hit a roadblock after U.K. Culture Secretary Karen Bradley demanded detailed review from the Competition and Markets Authority.


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