Films, news channel boost results in Fox earnings beat

|By:, SA News Editor

Twenty-First Century Fox (FOX -1.7%, FOXA -1.4%) beat on top and bottom lines in a solid quarter boosted by resurgent profit on the film side and strong gains in revenues overall.

Revenue increases came mainly from higher affiliate fees and ad revenues at the cable business -- it's been a good year for Fox News -- as well as strength from the film studio. Income from continuing operations rose to $827M from a year-ago $678M.

"Whether it was Fox News rating No. 1 in basic cable, the 27 primetime Emmy Awards between FX Networks and Fox Broadcasting, producing three of the top five scripted shows on television, or our robust international growth, we demonstrated strong operational momentum across our global businesses," said Rupert and Lachlan Murdoch in a statement.

Revenue by segment: Cable Network Programming, $3.81B (up 10%); Television, $1.038B (down 1%); Filmed Entertainment, $1.91B (up 6.8%); corporate and eliminations came to -$249M.

OIBDA by segment: Cable Network Programming, $1.384B (up 6%); Television, $191M (down 2.6%); Filmed Entertainment, $311M (up 109%); corporate and eliminations came to -$95M.

Conference call to come at 4:30 p.m. ET.

Press release

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