Murdoch's 21st Century Fox Sees Profits Fade

Murdoch's 21st Century Fox Sees Profits Fade

Via AFP:

Rupert Murdoch's 21st Century Fox reported a drop in quarterly profits Thursday despite revenues rising strongly at the film and television conglomerate.

In the second fiscal quarter to December 31, net profit fell by half to $1.2 billion compared to a year earlier, when one-time gains boosted earnings.

Revenues were up 15 percent at $8.2 billion. Shares rose 1.35 percent to close at $31.57.

Murdoch, the Australian-born tycoon who last year split off the company's fast-growing entertainment assets from its publishing interests, welcomed "top-line revenue growth across our businesses....

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