More earnings! On Wednesday, after market close, the Twenty-First Century Fox earnings report was released. The stock did not go flying, despite the company beating analyst expectations.
Here’s what we know.
Twenty-First Century Fox Earnings Report: The Details
In the fiscal Q4 earnings report, Twenty-First Century Fox surpassed expectations on both revenue and earnings.
The New York City-based company saw revenue come in at $7.94 billion. Wall Street was expecting $7.56 billion. Meanwhile, Twenty-First Century Fox saw earnings come in at 57 cents per share, versus the expected 54 cents per share.
Looking Back
In comparison to the same period last year, you can see just how the mass media company has improved.
In 2017, in the fourth-quarter, Twenty-First Century Fox reported that revenue came in at $6.75 billion, while earnings came in at 36 cents a share.
So what sparked this change? Well, according to the company, the increase (which is 18% year-over-year) is due to “strong double-digit growth” in the majority of its operating segments.
What’s on the Horizon
The question now is whether Fox can keep up this momentum. Things could go either way, depending on the outcome of the Fox Comcast bidding war.
This week, we saw Fox submit its bid for Sky, a pay-TV operator, but it was below Comcast’s. As a result, Fox will have to resubmit its offer, and the company has been given until September 22nd to do so.
The Twenty-First Century Fox Stock (NASDAQ:FOX)
The Twenty-First Century Fox earnings report was solid, but the stock is still in the red zone.
At market close, Yahoo Finance reports that FOX closed down 0.22%. It is now, as of 4:44 p.m. EDT, down 0.04% in after-hours trade.
The Takeaway
What do you think about the FOX earnings report?
On another note, make sure you watch the Fox Comcast bidding war play out as we move into September. Whose side are you on?
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