REPORTING SEASON: 21st Century FOX (FOX)
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Figure 1: 21st Century FOX 12 month chart
21st Century Fox (FOX) has reported a sharp boost in 4Q revenue, in its first earnings report since the company was formed following the split of News Corporation at the end of June.
Higher profits at its cable networks and lower restructuring charges saw total revenue rise 15.6% in 4Q13 to US$7.2B, while total segment operating income before depreciation and amortisation (OIBDA) rose 14% to US$1.49B.
Full year OIBDA rose 9% to US$6.26B on revenue of US$27.68B.
Earnings per share came in at US$0.31 in 4Q, bang in line with CBA’s expectations.
The company gave bullish guidance for FY14 in a conference call in New York while Chairman and CEO Rupert Murdoch also released an upbeat statement.
“Although a significant amount of time and effort was spent over the past 12 months on this separation, we never lost focus on the operation of our businesses….(and) as a result of these advances, 21st Century Fox is poised to deliver continued innovation for our customers.”
FOX shares rose against a weaker market on Wednesday.