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MARKETS LIVE BLOG:

STOCKS TRADE MIXED AS COMPANY EARNINGS ROLL IN

Shares of Live Nation, parent company of Ticketmaster, fall on antitrust probe report

21st Century Fox, Inc. (FOXA) Q3 2016 Earnings: Earnings in Line, Beats on Revenues

Andrew Steele
Updated

21st Century Fox, Inc. (FOXA) announced financial results for the third quarter of fiscal 2016, posting earnings of $0.47 per share and net sales of $7.23 billion.

Currently, 21st Century Fox has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.

21st Century Fox:

1. Met earnings estimates: The company posted $0.47 per share, matching our Zacks Consensus Estimate of $0.47. The company’s EPS figure excludes $0.03 from non-recurring items.

2. Beat revenue estimates: The company saw revenue figures of $7.23 million, narrowly beating our estimate of $7.18 million.

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3. The Cable Network Programming quarterly segment of 21st Century Fox increased 12% to $1.38 billion driven by a 10% revenue increase on higher affiliate revenues and low double digit advertising revenue growth, partially offset by a 9% increase in expenses.

4. “We delivered significant revenue and earnings growth in the quarter on the strength of gains in affiliate and advertising revenues across our domestic and international cable portfolios as well as at our television segment,” said Executive Chairmen Rupert and Lachlan Murdoch.

“Whether it was Fox News outranking all of basic cable for the first time, FX delivering the year’s most watched new cable show with The People v. O.J. Simpson: American Crime Story, or STAR Sports remaking televised sports in India, the unique appeal of our industry leading brands and premium content has never been clearer.”

5. Shares of FOXA remained relatively unchanged in after hours trading shortly after its earnings report was released, increasing only $0.01 in value.

Here’s a graph of 21st Century Fox’s percentage change over 3 months versus its competitors:

 

 

21st Century Fox, Inc. is involved in creating and distributing media services. Its business portfolio consists of cable, broadcast, film, pay TV and satellite assets. 21st Century Fox, Inc., formerly known as News Corporation, is based in New York.

Check back later for our full analysis on 21st Century Fox’s 2016 third quarter earnings report!

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