Twenty-First Century Fox, Inc. (NASDAQ: FOXA) today reported financial results for the three months ended December 31, 2015.
The Company reported total quarterly revenues of $7.38 billion, a decrease of $49 million, or 1%, from the $7.42 billion of adjusted revenues reported in the prior year. The decline compared to last year’s adjusted revenues reflects higher affiliate and advertising revenues at the Cable Network Programming and Television segments that were more than offset by lower revenues generated at the Filmed Entertainment segment due to lower home entertainment revenues and the absence of revenues from Shine in the current quarter. The adverse impact of foreign exchange rates in the current quarter impacted adjusted revenue growth by $207 million, or 3% in total.
Quarterly total segment operating income before depreciation and amortization of $1.73 billion increased $35 million, or 2%, from the $1.70 billion of adjusted OIBDA reported in the prior year. The increase compared to last year’s adjusted OIBDA primarily reflects 8% growth at the Company’s Cable Network Programming segment partially offset by reduced contributions from the Filmed Entertainment segment. The adverse impact of foreign exchange rates impacted adjusted OIBDA growth by $109 million, or 6%.
The Company reported quarterly income from continuing operations attributable to stockholders of $674 million ($0.34 per share), compared with $6.22 billion ($2.89 per share) in the prior year. Excluding the net income effects of Other, net and gains and other adjustments related to Sky and Endemol Shine Group included in Equity earnings from affiliates, adjusted quarterly earnings per share(4) from continuing operations attributable to stockholders was $0.44 compared with the adjusted year-ago result of $0.53, which included the recognition of various tax benefits of $0.12 per share.