Fox Entertainment operating profit beats estimates
Fox Entertainment Group (NYSE:FOX) on Wednesday reported flat second-quarter operating profits but beat Wall Street forecasts as revenues increased, driven by DVD sales and strong performance at its film studios.
Fox, which is controlled by Rupert Murdoch’s News Corp. Ltd. (NYSE:NWS)(Australia:NCP.AX), includes the Fox film studio, TV production group, TV network and various cable TV holdings. It reported operating income, before one-time charges, of $94 million, or 13 cents a share, unchanged from the same quarter a year earlier.
Analysts’ consensus forecast was 8 cents a share, according to research firm First Call/Thomson Financial.
Including one-time charges for the restructuring of its Healtheon/WebMD Corp. (NasdaqNM:HLTH) transaction, Fox reported a net profit for the fourth quarter of $5 million, or 1 cent per share.
Revenues totaled $2.50 billion, up from $2.43 billion in the year-earlier period.
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