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....

Continue reading...


We welcome relevant, respectful comments. Any comments that are sexist or in any other way deemed hateful by our staff will be deleted and constitute grounds for a ban from posting on the site. Please refer to our Terms of Service (revised 3/17/2016) for information on our posting policy.