Twenty-First Century Fox (FOXA) Stock Climbs in After-Hours Trading on Revenue Beat
NEW YORK (TheStreet) -- Twenty-First Century Fox (FOXA) - Get Report stock is rising by 0.50% to $29.95 in after-hours trading on Wednesday, after the company reported in-line 2016 first quarter earnings and better-than-expected revenue.
After the market close, the media company reported adjusted earnings of 47 cents per share, in line with analysts estimates.
Revenue increased by 6% year-over-year to $7.23 billion for the most recent quarter, beating analysts' expectations for $7.18 billion in revenue.
The growth in sales came as higher affiliate and advertising revenues at the cable network programming and television segments were partially offset by lower television production revues at the filmed entertainment segment, according to a company statement.
"Whether it was Fox News outranking all of basic cable for the first time, FX delivering the year's most watched new cable show with The People v. O.J. Simpson: American Crime Story, or STAR Sports remaking televised sports in India, the unique appeal of our industry leading brands and premium content has never been clearer," executive chairmen Rupert and Lachlan Murdoch said in a statement.
Separately, TheStreet Ratings team rates the stock as a "buy" with a ratings score of B.
Twenty-First Century Fox's strengths such as its good cash flow from operations, expanding profit margins and notable return on equity outweigh the fact that the company has had sub par growth in net income.
You can view the full analysis from the report here: FOXA
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.
