Fox Shares Down 4% After Company's Revenue Miss
Shares of 21st Century Fox Inc. fell more than 4% late Wednesday after the media company reported quarterly adjusted per-share earnings above expectations but narrowly missed revenue forecasts. Fox said it earned $799 million, or 43 cents a share, in the fiscal third quarter, compared with $841 million, or 44 cents a share, in the year-ago period. Adjusted for one-time items, the company earned 54 cents a share in the quarter, compared with 47 cents a share a year ago. Revenue rose to $7.56 billion in the quarter, up from $7.23 billion a year ago. Analysts polled by FactSet had expected adjusted earnings of 48 cents a share on sales of $7.63 billion.
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