NEW YORK (AP) — Twenty-First Century Fox reported third-quarter earnings that topped analyst expectations as revenue grew thanks to higher advertising revenue and a popular Super Bowl but expenses also rose quickly due to the launch of new channels including Fox Sports 1.
Net income fell 63 percent to $1.05 billion, or 47 cents per share, from $2.85 billion, or $1.22 per share, a year earlier.
After adjustments that offset each other, the 47 cents per share of earnings beat the 35 cents expected by analysts polled by FactSet.
Revenue rose 12 percent to $8.22 billion from $7.35 billion a year ago. Analysts were expecting revenue of $7.98 billion.
Fox shares rose $1.24, or 3.9 percent, to $33.36 in after-hours trading following the release of results.