Seeking Alpha

Fox profit from continuing ops +64%

  • Twenty-First Century Fox (FOX): FQ4 adjusted EPS of $0.31 misses by $0.03. Revenue of $7.21B (+16% Y/Y) beats by $70M.
  • Losses narrow to $371M from $1.55B a year ago.
  • Income from continuing operations +64% to $977M.
  • Fox's pay TV channel revenues +16% to $2.95B, boosted by fee increases and a 10% rise in ad revenues.
  • Revenue from local Fox broadcast TV stations flat at $1.1B.
  • Movie studio revenue +3% to $2.04B
  • Revenue from European satellite TV ops +45% to $1.38B
  • Fox to spend $200M launching new TV channels, including a new national sports network next week, and $150M on Fox broadcast network.
  • Operating loss from discontinued operations - ie News Corp. (NWS) - $1.35B vs $2.15B a year ago.
  • Fox expects adjusted operating income to increase by a "high single- to low double-digit" percentage in FY 2014 from $6.26B in the year just completed. (PR)

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