21st Century Fox (FOXA) Tops Q2 EPS by 4c
21st Century Fox (NASDAQ: FOXA) reported Q2 EPS of $0.53, $0.04 better than the analyst estimate of $0.49. Revenue for the quarter came in at $7.68 billion versus the consensus estimate of $7.72 billion.
Quarterly total segment OIBDA2 of $1.99 billion increased by $264 million, or 15%, from the $1.73 billion reported in the prior year quarter. This increase was due to higher contributions from all of the Company’s operating segments with particularly strong growth reported at the Television and Filmed Entertainment segments. The adverse impact of foreign exchange rates impacted quarterly OIBDA growth by $44 million, or 3% in total.
Commenting on the results, Executive Chairmen Rupert and Lachlan Murdoch said:
“We delivered a second consecutive quarter of double-digit earnings growth, driven by solid increases in affiliate and advertising revenues across cable and television. Our record-breaking post-season baseball run underscores the immense value of our sports programming, as well as the broader competitive advantage we have built through our other leadership positions in entertainment and news. 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. Additionally, during the quarter we announced an offer to purchase the approximate 61% interest in Sky we do not already own. We expect the transaction will generate significant adjusted earnings per share and free cash flow accretion and it provides clarity on our near-term capital allocation priorities.”
For earnings history and earnings-related data on 21st Century Fox (FOXA) click here.