21st Century Fox reported that international affiliate revenue increased 11 percent driven by rate and subscriber growth at both FNG International and Star India for its cable network programming segment for the quarter ending 30 September 2017. The segment’s international advertising revenue increased 10 percent led by double digit growth at Star India and continued growth at FNG International says a 21st Century Fox release. International OIBDA (Operating Income Before Depreciation and Amortization) contributions were similar to the prior year quarter as higher contributions at Star India were offset by lower contributions at FNG International where higher entertainment and sports programming costs more than offset the higher reported revenues.
21st Century Fox reported total quarterly revenues of USD 7.002 billion, a USD 496 million, or 8 percent, increase from the USD 6.51 billion of revenues, reported in the prior year's quarter. This increase reflects revenue growth reported across all operating segments, led by higher affiliate revenues at both the cable network programming and television segments and higher content revenues at the filmed entertainment segment.
The company reported quarterly income from continuing operations attributable to 21st Century Fox stockholders of USD 839 million (USD 0.45 per share), as compared to USD 827 million (USD 0.44 per share) reported in the prior year quarter. Excluding the net income effects of impairment and restructuring charges, Other, net and adjustments to equity earnings of affiliates adjusted quarterly earnings per share from continuing operations attributable to 21st Century Fox stockholders was USD 0.49 compared to the adjusted result of USD 0.51 for the same quarter of the prior year.
Commenting on the results, 21st Century Fox executive chairmen Rupert and Lachlan Murdoch said, “The company’s double-digit gains in affiliate revenues demonstrate our strength in the dynamic global market for distinctive video brands and content, across both established distributors and new entrants. We delivered top-line growth at all of our businesses, backed by stand-out storytelling, sports and news, as well as a product focus that will drive greater consumption and compelling opportunities for financial returns on our content investment. Our solid first quarter performance puts us on track to achieve our overall financial and operational objectives for this fiscal year.” – India DTH