Twenty-First Century Fox Shares Fall Despite Q2 Beat

Twenty-First Century Fox Inc FOXA posted second-quarter core revenue growth of 10 percent while earnings beat expectations.

The TV and film company's shares changed hands after-hours recently at $32.65, down 5.8 percent.

Fox said higher affiliate and advertising revenue in its cable segment and improved results from film segment drove recent second-quarter gains.

The company's 83-year-old Chief Executive Rupert Murdoch said results were in spite of "continuing currency headwinds and ratings challenges at the Fox broadcast network."

Adjusted earnings rose to $0.53 a share, from $0.33 a year earlier. Adjusted revenue increased to $7.42 billion, from $6.73 billion.

Wall Street expected earnings of $0.42 a share, on revenue of $7.36 billion.

Net second-quarter income from continuing operations rose to $6.22 billion, or $2.89 a share, from $982 million, or $0.43 a share last year.

Net profits include a gain of $9 billion from the sale of Sky Italia and its 57 percent stake in Sky Deutschland.

Net revenue for the recent period fell to $8.06 billion, from $8.16 billion last year.