For the third quarter the media company reported earnings of 47 cents a share, beating analysts' estimates of 35 cents a share by 12 cents. Revenue grew 12% from the year-ago quarter to $8.22 billion. Analysts surveyed by FactSet expected revenue of $7.98 billion.
Broadcast TV revenue increase 27% in the quarter to $1.59 billion, largely due to the Super Bowl. Pay TV revenue grew 11% to $3.15 billion due to fees from cable companies and advertising revenue.
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TheStreet Ratings team rates TWENTY-FIRST CENTURY FOX INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate TWENTY-FIRST CENTURY FOX INC (FOXA) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, reasonable valuation levels and good cash flow from operations. We feel these strengths outweigh the fact that the company has had sub par growth in net income."