Fox Corporation Q1 Profit Decreases, but beats estimates

Fox Corporation (FOX) released earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $605 million, or $1.10 per share. This compares with $701 million, or $1.21 per share, in last year's first quarter.

Excluding items, Fox Corporation reported adjusted earnings of $670 million or $1.21 per share for the period.

Analysts on average had expected the company to earn $1.14 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.6% to $3.19 billion from $3.05 billion last year.

Fox Corporation earnings at a glance (GAAP) :

-Earnings (Q1): $605 Mln. vs. $701 Mln. last year.
-EPS (Q1): $1.10 vs. $1.21 last year.
-Analyst Estimates: $1.14
-Revenue (Q1): $3.19 Bln vs. $3.05 Bln last year.

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