Twenty-First Century Fox Posts a 27% Increase in Profit for Q4 Quarter
Shares of Twenty-First Century Fox Inc were unchanged in after-hour trading on Monday as the company’s quarterly report showed that while profit beat analysts’ expectations, revenue fell short of forecasts.
21st Century Fox Inc. reported a 27% increase in profit for the most recent quarter thanks to strong advertising revenue from sports events such as the World Series, and strong ratings of its cable news channel during the U.S. presidential campaign.
Net income came in at $856 million, or 46 cents a share, up from $672 million, or 34 cents, a year earlier, for the three months ended December 31.
However, the company posted revenue that rose only 4% to $7.68 billion while analysts had expected revenue of $7.72 billion.
Buy Stop at 30.72, Take profit 32.00, Stop loss at 30.00