Market Overview

Fox Reports Q4 Earnings Beat

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Just after Wednesday's closing bell, Twenty-First Century Fox (NASDAQ: FOXA) released its fiscal 2014 fourth quarter earnings results.

Fox reported fourth quarter revenue and EPS of $8.42 billion and $0.43 vs. estimates of $7.97 billion and $0.39.

For full-year 2014, the company posted $31.87 billion in revenues, an increase of 15 percent year over year.

Additionally, the company announced a dividend of $0.125 per Class A and Class B share. The dividend is payable on October 15, 2014, to shareholders of record on September 10, 2014.

Chairman and Chief Executive Officer Rupert Murdoch commented, "In the fiscal fourth quarter we built on our operational momentum with double-digit earings and revenue gains. The Company's strong financial performance was driven by sustained affiliate revenue increases at our cable networks and record fourth quarter contributions at our filmed entertainment segment on the strength of global box office successes X-Men: Days of Future Past, Rio 2 and The Fault In Our Stars."

Murdoch added, "As we close the fiscal year, I continue to have confidence in our ability to execute our growth plan and drive value for our shareholders. Our new $6 billion share buyback program, to be executed over the next twelve months, further underscores our disciplined approach to increasing shareholder value."

 

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