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Twenty-First Century Fox Down on Q4 Earnings Beat, Revenue Miss
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Twenty-First Century Fox, Inc. (FOXA - Free Report) just released its fourth quarter 2016 financial results, posting earnings of $0.53 per share and revenues of $7.68 billion. Currently, FOXAis a Zacks Rank #3 (Hold), and is down 1.77% to $30.51 per share in after-hours trading shortly after its earnings report was released.
Beat earnings estimates. The company posted earnings of $0.53 per share, topping the Zacks Consensus Estimate of $0.49 per share, which excludes $0.07 from non-recurring items.
Missed revenue estimates. The company saw revenue figures of $7.68 billion, missing our consensus estimate of $7.71 billion.
Revenues increased 4% from the prior year quarter, as domestic cable affiliate (FX Networks, FS1, and Fox News) revenue increased by 7%. Domestic cable advertising revenue grew 12% over the prior year period. Network television generated quarterly segment OIBDA of $376 million, 35% higher than the year prior.
The company is also set to purchase 61% interest it doesn’t already own in U.K.’s Sky plc.
FOXA also hopes to build on its 20th Century Fox releases with three big-budget summer movies: Logan, Alien: Covenant, and War for the Planet of the Apes. Its recent release Split has topped box office for three weeks.
“We delivered a second consecutive quarter of double-digit earnings growth, driven by solid increases in affiliate and advertising revenues across cable and television,” said Executive Chairmen Rupert Murdoch in a press release.
“We also continue to excel creatively, with our television studio producing the number one series on six networks, FX Networks leading all networks in Golden Globe wins and our film studio recognized with 7 Academy Award nominations.”
Here’s a graph that looks at FOXA’s Price, Consensus and EPS Surprise
Twenty-First Century Fox, Inc. Price, Consensus and EPS Surprise
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!
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Twenty-First Century Fox Down on Q4 Earnings Beat, Revenue Miss
Twenty-First Century Fox, Inc. (FOXA - Free Report) just released its fourth quarter 2016 financial results, posting earnings of $0.53 per share and revenues of $7.68 billion. Currently, FOXAis a Zacks Rank #3 (Hold), and is down 1.77% to $30.51 per share in after-hours trading shortly after its earnings report was released.
Beat earnings estimates. The company posted earnings of $0.53 per share, topping the Zacks Consensus Estimate of $0.49 per share, which excludes $0.07 from non-recurring items.
Missed revenue estimates. The company saw revenue figures of $7.68 billion, missing our consensus estimate of $7.71 billion.
Revenues increased 4% from the prior year quarter, as domestic cable affiliate (FX Networks, FS1, and Fox News) revenue increased by 7%. Domestic cable advertising revenue grew 12% over the prior year period. Network television generated quarterly segment OIBDA of $376 million, 35% higher than the year prior.
The company is also set to purchase 61% interest it doesn’t already own in U.K.’s Sky plc.
FOXA also hopes to build on its 20th Century Fox releases with three big-budget summer movies: Logan, Alien: Covenant, and War for the Planet of the Apes. Its recent release Split has topped box office for three weeks.
“We delivered a second consecutive quarter of double-digit earnings growth, driven by solid increases in affiliate and advertising revenues across cable and television,” said Executive Chairmen Rupert Murdoch in a press release.
“We also continue to excel creatively, with our television studio producing the number one series on six networks, FX Networks leading all networks in Golden Globe wins and our film studio recognized with 7 Academy Award nominations.”
Here’s a graph that looks at FOXA’s Price, Consensus and EPS Surprise
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!
Stocks that Aren't in the News… Yet.
You are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 ""Strong Buys"" free of charge. Many of these companies are almost unheard of by the general public and just starting to get noticed by Wall Street. They have been pinpointed by the Zacks system that nearly tripled the market from 1988 through 2015 with a stellar average gain of +26% per year. See these high-potential stocks free >>