UPDATE: 21st Century Fox Posts Upbeat FQ2 Profit

Twenty-First Century Fox FOX reported a drop in its fiscal second-quarter profit. 21st Century Fox's quarterly profit declined to $1.2 billion, or $0.53 per share, versus a year-ago profit of $2.4 billion, or $1.01 per share. Its revenue climbed 15% to $8.16 billion versus $7.11 billion. However, analysts were projecting a profit of $0.33 per share on revenue of $7.95 billion. 21st Century Fox shares closed at $31.15 yesterday.