NEW YORK (AP) — Twenty-First Century Fox says its fiscal second-quarter net income dropped 49 percent, mainly as a result of acquisition-related costs.
For the quarter ended Dec. 31, the media entertainment giant controlled by Rupert Murdoch earned $1.21 billion, or 53 cents per share, down from $2.38 billion, or $1.01 per share, in the same quarter the year before. Excluding one-time items, the company posted an adjusted profit of 33 cents per share.
Revenue rose 15 percent to $8.16 billion from $7.11 billion.
Analysts, on average, expected a profit of 33 cents per share on $7.87 billion in revenue, according to FactSet.