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21st Century Fox earnings beat expectations, revenue narrowly misses

21st Century Fox announced fourth-quarter earnings that beat expectations and revenue that narrowly missed.

Here's how the company did compared with what Wall Street expected:

  • EPS: 36 cents vs. 35 cents, according to Thomson Reuters
  • Revenue: $6.75 billion vs. $6.77 billion, according to Thomson Reuters

The company's earnings fell to 36 cents per share from 45 cents per share in the year-ago quarter. Revenue increased to $6.75 billion from $6.6 billion in the same period last year.

21st Century Fox attributed revenue growth to higher cable network programming affiliate and advertising revenue, which it said was partially offset by lower filmed entertainment content revenue and lower television ad revenue.

Cable network programming revenue increased to $4.33 billion from $3.92 billion from the year-ago quarter. Television revenue decreased to $1 billion from $1.04 billion in the same period last year, and filmed entertainment revenue decreased to $1.80 billion from $2.04 billion.

Domestic affiliate revenue increased 10 percent, which 21st Century Fox attributed to higher pricing across its cable brands. Domestic advertising revenue grew 6 percent from the same time last year.

"We believe that as time-shifted...


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